Friday, May 8, 2009

We talked about it on twitter-


After the break we bought one contract at 56.40 and currently we have a stop in place at 57.40
move stop to 57.75 we made our goal and then some it is Friday- We believe we are in a v shaped recovery certainly as of now we are- and yesterday was one of  those days to strengthen the secondary account move excess cash trade oil with the base 20000 and start again next week.
It has been a pretty nice ride here oil shifts gears back to 58. It may trade down a bit but it looks like we are in a higher range leading into the summer driving season. And like analyst Maxwell of Weeden and Company so astutely pointed out there is a point on the not too distant horizon where demand will exceed available Oil. It won't and can't stay this cheap for long.
Of course the NFP comes out today and were are long but will get stopped out at a nice profit if the numbers are bad and we will make even more if it is good.