I am considering shorting some oil

xiaofengfeng

I felt today oil's rally is forced, felt like a top. Inventory data is very bad yet it run up close to 2%, the volume is very high and at the end of the day there is a small reversal. If this is not the top it very close to top. I am considering buying some USO April 40 put at 2.39, this require oil price drop to $76 between now and April expiration, seems a easy target.

ut1984

mtlu2

you can check May-July oil chart,  oil overbuy+++ for long time, maybe wait a while, I almost got burned that time.

ranchgirl

I felt today oil's rally is forced, felt like a top. Inventory data is very bad yet it run up close to 2%, the volume is very high and at the end of the day there is a small reversal. If this is not t ...
xiaofengfeng 发表于 2010-1-6 22:17

I wish you are right.

rabishh

小心满地的眼镜

coexist

volume heavy but price flat, top symptom.  however, no guts to short except for dt

xiaofengfeng

Added some April 40 USO puts at 2.48 today, waiting for oil to crash some where between now and April.

LLJ

uso有可能到42左右

xiaofengfeng

uso有可能到42左右
LLJ 发表于 2010-1-7 16:49

Sure, I am just beting it will correct to at least 35 area some time between now and April, and I am double my money.

LLJ

calm down, I'm with you, I already shorted it

xiaofengfeng

I am not mad at you, I am just try to knock oil down. I just hate the pure manipulation yesterday, the inventory report is so bad yet oil up so much. Especially the vol is so high, it felt somebody is really desperated to control the price.
If tomorrow's job report is good --> Fed may raise rate earlier --> higher dollar --> lower oil price.

LLJ

that's what I expect too, let's wait to see what will happen

janez

I got oil shorts too.

unlsjtuhx