Me? I'd take the laptop and I'd also leave that final chunk running for another 100pts or so.
but thats me and my trading style
Check the month your betting on. You could be betting on the front month ( July ) and using charts that show light crude August delivery = different price but the same movement
trader_dante
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Who would want to be long Crude right now?
a few reasons out there to be long but I think few more to be short but plenty of guys think the $150 is going to be tested.
TD
If you have any technical reasons to be short [or not long] on oil can you share them please. I'm a newbie so any help I would appreciate.
I have been trading oil for a while now and find it a fairly interesting trade. Huge vol at the moment, but is tough to pick it day to day. I work for an Inv Bank, so pretty plugged into the data, however, find the whole geo-policitcal events side quite difficult to manage. You can think you have a good view of the market, i.e. overbought, tankers sitting full of oil in the gulf, G8 pressure, Saudi's red faced at amount of cash coming in the door etc...everything macro screams going short, then boom, a site gets knocked out in Nigeria and you are stopped out in a heart beat. I think oil is a great trade, however, you need to get your head around the fact you will be stopped out on a relatively regular basis. My view is that we are headed south, however, nobody can rule out a super spike to 150+.
trader_dante
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they do indeed. I'll be buying this market each and every time it goes to $131 / $132. Until it breaks $130.
trader_dante
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Good luck.
although there have been whispers about the price hike, I guess most people will be surprised by the timing. Can't see it dampening China's appetite for energy though.
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