Recent content by futuresx

Why do the grey suits in congress believe that all speculators are long oil? Most are short and are only buying to cover their short positions when bullish news hits the wires causing the jumps like we saw on the 5th and 6th June

Morning Spanish. On Friday 6th June, you sold while everyman and his barrel of oil was long or closing out sell postions. Say no more. Also you can't ravage oil or any market with £500 in the pot. Rabbit in headlights.

agreed, its pays to watch it from 8am

Final 1/4 closed at 134.70 so 249 pts on that chunk of contracts. Flat now ahead of the summit on Sunday so all finished for the week. Another great day and looking back a great week with big moves some serious pts.

another 1/4 covered at 133.61 so 150 pts on that 1/4 final 1/4 running and stop still at b/e - shotting for aug brent $135

yeah it is bearish. current hefty shortgages can't be overlooked

agree but another way of looking at it is in the short term atleast chinese refiners import more oil to bolster sales = oil price goes up

although there have been whispers about the price hike, I guess most people will be surprised by the timing. Can't see it dampening China's appetite for energy though.

1/2 off 133.21 = 100pts. stop moved to b/e on remainder contracts

they do indeed. I'll be buying this market each and every time it goes to $131 / $132. Until it breaks $130.

long at Aug Brent 132.21 and looking for $135. Stop 130.41

a few reasons out there to be long but I think few more to be short but plenty of guys think the $150 is going to be tested.

stopped out on final 1/4

Check the month your betting on. You could be betting on the front month ( July ) and using charts that show light crude August delivery = different price but the same movement

Me? I'd take the laptop and I'd also leave that final chunk running for another 100pts or so. but thats me and my trading style