CRUDE OILFor those of you that get my newsletter, the Crude Oil trade is summarized to the left. I had said to short it on 4/2/07 and exit when the percent R closed under 25. The entry was 65.10 and the exit was 62.01, a profit of $3.09/barrel. This yielded $3,090 per contract so I hope some of you did this trade. Things rarely line up as perfectly as that one did, so the trades have to be taken when they do.
6 comments:
Nice job on that trade!
Thanks PW. How goes your new venture?
Going great, I emailed you to see if I could add you to my links, about 2 - 3 months ago, but did not hear back.
http://www.californiahousingforecast.com
Sorry, I never got the email, it must have been blocked somehow.
what do you think about oil now at these levels? it closed at about $62 today. and do you see it hitting the $70's this summer?
At this moment I do not see Crude going to $70, the commercials are heavily short, and the trend is down. However, that would be just above the top of the trading range that has been in place for awhile, so it is not out of the question.
All trades for me for the time being are on the short side of this market.
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