I'm fairly certain we're seeing an intermediate term top in oil here. I'm short, via a 3% long position in $SCO. (I'm also long $USDCAD, $USDMXN, $USDNOK)
I'm open to going long again, but I think we'll see profit taking a rapid decline next.
Risk a new high, 0.5% exposure and off you go.
Cheers,
Ivan Labrie.
I'm open to going long again, but I think we'll see profit taking a rapid decline next.
Risk a new high, 0.5% exposure and off you go.
Cheers,
Ivan Labrie.
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www.zerohedge.com/ne...e-double-their-quota
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Today's action is a failure for bears. I'd reccomend standing aside for now and let the market show its hand next.
Today's action is a failure for bears. I'd reccomend standing aside for now and let the market show its hand next.
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Looks to be topping but not too safe to short. I'll still reccomend not trading oil for now.
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Top WAS in. We had shorted last Thursday but I didn't get to update on time.
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Keep a stop at entry price and close half the position.
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Top was in...
