Tuesday, September 1, 2009

oil 68.75

We lock min another 50 cents but move entry to 68.25 we have been successful finding the support buy bounce sell move entry lower with the trend so negative you can be very pricey from the buy side conversely it is your choice you could target the the swing highs as sell entries and buy back near my entry target either strategy would work it will be difficult to reverse as I am tending several positions performing battlefield triage on many of my wounded soldiers


Oil proves that it is range bound still and is not quite ready to switch brackets

Friday is being calculated as a bad employment number the market has now sold off in advance
call buying below the 1000 mark in the s+P makes sense as a shot
The upside move will be violent if it surprises I would protect and have but it makes sense to put a lottery ticket in place the returns will be huge


Can you believe October natural gas 2.82 that is alow number the extended spread in November shows that consensus believes this is a very short term scenario
we look to buy 2.75 on the contract the trend of dip to new lows and pop 10-20 cents continues