iBankCoin
The first hit is always on the house.
Joined Aug 2, 2009
1,833 Blog Posts

ABOUT THAT OIL LONG

Stops were hit. Testicles exploded. Orifices bled.

Yeah, felling pretty good about that shit.

Stopped on my first /CL long at breakeven, then bought again and stopped for a loss.

My Sanchez buy from yesterday is now behind me, giving me a Sanchez as we speak.

Fuck you for laughing.

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22 comments

  1. aflow90

    So you’re saying we’ve hit the bottom.

    😉

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  2. hedge500

    have you finished with it?

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  3. C. Montgomery Burns
    C. Montgomery Burns

    A Sanchez? Please elaborate.

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  4. tnapearson86

    My new rule for oil trades:
    1. Find the spot you REALLY like
    2. Wait 2 days
    3. Enjoy the shakeout
    4. Enter Order

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    • aflow90

      That’s honestly been my approach to trading anything discussed here. I’ve been markedly more successful after having made that adjustment.

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  5. Beechoo

    Long ERX

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  6. Jay

    Laughing at your pithy self deprecation, not the loss!

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  7. acehood

    Meanwhile in retail land…

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  8. Goober

    Yeah I went heavy on Sanchez and COP calls. Nothing too serious but enough to smart.

    Livermore didn’t mind being early:

    “It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine–that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.”

    I guess in instruments with defined shelf lives that just means when price settles to where we want it – reload. Livermore’s advice could apply to the whole materials trade as well as to oil and retail. The really big money is in these trades and it will only go to the persistent few.

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  9. The Maven

    Made me smile, not laugh. My day was worse than yours and my Sanchez is so old it is crusty.

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  10. Jesus

    thoughts on $YY?

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  11. iflyjetzzz

    Excess supply of oil. Inventories rising during peak demand season is a sign that oil will be MUCH lower come next spring.

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  12. bushwacker2

    From the volume and spread, it’s pretty clear that some major players are getting out. A hopeful temporary spike in price for the bulls could actually trigger aggressive selling since there’s so much oil supply coming online. Don’t fight the rig count. A point and figure horizontal count of the consolidation from Dec-April targets $36-$38 area. Just my $.02. Good luck.

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  13. Moosh

    OA, Do you think any CRSPR stocks look decent for a go?

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  14. probucks

    jesus.. CL is a bitch. I fucking hate that contract

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  15. bottom_feeder

    that cartoon image cracks me up… hard to believe we used to watch characters getting shot in the face with a shotgun as kids.

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  16. btfd

    What’s your target exit on X?

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