Monday, March 30, 2009

3:21 open outcry closed at 230 48.58 last sale


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We are long at 48.12 we have moved stop up to 47.88 20 cents away
somehow this is my position for the overnight heading into terrible tuesday With oil way oversold here i expect a nudge north we are not riding this one that long at 49.125 we cash out and rethink EIA starts to loom and we usually set ourselves up neutral going into that report
The API  comes out around 230 tuesday and might hint at the EIA.




Come on guys you gotta hand this one to me-Short 54.25-rode it almost 6 points but not really being a cowboy used stops prudently the whole way down just read the reports. At the bottom of the channel here and I like this long position for now-I will say it again use stops or you will lose your money in this game!