Shorting Oil and Shorting The Stock Market: Best Opportunities For June

I am looking forward to trade in June. I am having a spectacular year so far with my trading account up over 6 fold. May was not so great because I traded the S&P Futures with an almost perfect timing but I lost big time in my structural short oil position. This short oil position took almost all of my S&P profits. When we trade for a living its always disappointing not to win in a trading month.

I was a bit exasperated by being unable to make real money last month. But as I think through it, last month moves in oil and in the stock market pave the way for me to have the best month of the year in June. Off course that won`t be easy, because I had already 2 fantastic trading months in February and in April where I have doubled my trading account. So I am really raising the bar for the next few trading weeks.

What makes me so optimistic going forward? Well, we have oil and the stock market extremely overbought and disregarding underlying conditions. Some argue that the economy is fast recovering others argue that this rise is due to money printing and higher inflation expectations going forward. I disagree on both. The economy is still contracting and he had further evidence of that on Friday with a awful Chicago PMI indicator. Inflation cannot increase significantly with all this job losses and high unemployment because big inflation is only possible with wage inflation. Wages are going down and not up.

So, shorting oil, the stock market and risky assets are big trading opportunities going forward. Markets should be shorted when they look at their best. I will also make some intraday plays that I call "go with the institutional flow" kind of trades. I have a magnificent track record with this type of trades and I normally use the S&P Futures or some sector ETF`s.

I will leave you with some food for thought, "we are always one trade way from being millionaires and one trade way from going to the poorhouse." That is why we must withdraw half of the profits from our trading account whenever we have a big, stupendous gain.


Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Oil Rises 30% in May. Biggest Gain in 10 Years.

Oil prices have risen roughly 30 percent this month — their biggest monthly gain in 10 years.

This is a good example of an overbought market becoming more and more overbought disregarding conditions. Profit taking and fundamentals will send this overbought down for a big correction soon and then I will be able to quote Jesse Livermore, "But I can tell you after the market began to go my way I felt for the first time in my life that I had allies - the strongest and truest in the world; underlying conditions."

When it turns, I will add agressively to my shorts. Playing the next downturn in oil will be the best trade for the next few months.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Tough Trading Day

I had to leave my office 2 hours before the end of the US session and I was astonished when I saw the closing prices. Before I left, I placed a buy stop in half of my S&P`s around the morning`s entry price, in the 910-913 area. I placed that stop because I could not watch the market for the rest of the afternoon and with a big short position we always need to be careful.

Even though I took quite a hit on the remaining shorts and my month ended just flat after being way ahead by Wednesday. While I did a few dozen good trades in the S&P Futures in May, I took quite a hit in my oil shorts and in this last S&P Futures trade. Quite disappointing. We can`t always win, can we? But its always painful to watch profits vanishing in thin air.

I need a rest. This was a very intensive trading week.

I will leave you with one of my favourite trading quotes of all time, "But I can tell you after the market began to go my way I felt for the first time in my life that I had allies - the strongest and truest in the world; underlying conditions." Where are my allies? I expect them to be nearby.

I am a few thousand dollars lighter.

Oil went up every single day of the week. Quite exasperating, not? But I never get impatient when I know I am right.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Doubling My S&P Short Position. 913

I am doubling my short S&P Futures position. I like to scale into trades and now I have a full position on.

I like to short on extreme strength and cover short or buy on extreme weakness. I am carrying these short lines into next week. This is going to be a pretty intense trading session.

The market is overbought and the higher long term interest rates will kill any economic recovery.

Today I am going to trade listening to this new music that I have just added to my ITunes. "Die Young" from The Danks. Pretty good stuff. I hope this is not a presage for me or my trading account. :)

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Exxon`s CEO Comments On Oil Prices

"The recent run-up in crude prices to $60-plus from under $40 earlier this year isn’t necessarily evidence that the economy is recovering", Exxon Mobil Chairman and CEO Rex Tillerson said Wednesday.

"Oil demand remains down while supply is robust amid the lingering global recession, so those fundamentals don’t support crude’s slow uptick."

The weak dollar and “green shoots” — initial signs of a stabilizing economy and market momentum — could be contributing, but oil traders’ optimism is “just a bet on their part,” Tillerson said after the company’s annual shareholder meeting.

But without change to fundamentals, Tillerson isn’t betting. “I think it’s too early to call this economy,” he said.

But with the market this strong even the most bearish oil traders like myself are beginning to have second thoughts. But like Pit Bull Marty Schwartz wrote in his fantastic trading book, "When it gets so bad that you want to puke, you probably should double your position". I am not there yet, not even close. But this rally is giving me a major headache. I have to keep my calm, because I want to double up that position and make a home run on the sell off. But I will seat on my hands for now...

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Big Economic Data Coming Out

Its looks like I am going to end the month with two losing trades. It will be a reasonable trading month, nothing brilliant compared to the March and April, but ending in the plus column despite the big volatility in my trading account. Just two day ago I was up big for the month, but yesterday`s rally in oil and in the S&P Futures have eaten over 30% of this month`s profits.

This is the nature of this business. Big profitable days followed by not so good trading sessions. Its the way it is.

Yesterday the stock market performed a lot stronger then I expected and oil rallied again. I won`t add to the short oil position because being short oil is a very dangerous trading position. I will try to exit that trade in the less harmful way that I can figure. It will be difficult to win on that one...

I am curious the see how the stock market trades today. If we rally again, 930 is the next major level. On the downside, 880 is still the level to watch for. Bond yields are dropping again today and that is not good news for shorts. Lets see how it plays out after the important economic data releases later today: US GDP, Chicago PMI and Consumer Confidence.

By the way, have you seen the rally in Natural Gas? I mentioned yesterday that Marc Faber said that Natural gas was the most undervalued commodity. Well, it rallied almost 9%. Did anyone catch that move?

I will end today with a phrase from Stanley Druckenmiller the biggest money machine ever, "superior performance requires two key elements: preservation of capital and home runs. You must take full advantage of the situations when you are well ahead and running a hot hand. On an individual trade basis, going for home runs means really applying leverage in those infrequent circumstances when you have tremendous confidence."

I was running a very hot hand. Not anymore. :)

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Shorting S&P`s Again. 894.

Actually I lost 1 point between closing short and shorting again, but the market is weak and there are plenty of points left to win on the short side. I would not be surprised to see 820 in the next few trading sessions.

I closed my XLF short position with a 20 ticks profit and I focusing on the S&P`s now.

I am using these S&P profits to add to my short oil position. Its a risky move but I think it will pay off. If the rally in risky assets has ended, as I think it has, oil will sell off big time.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Closed S&P Short Position. New Opportunities?

I have just closed my S&P short position at 894 and 895 on Globex. I was expecting to see the futures way down this morning, in the aftermath of yesterday`s gigantic upsurge in bond yields.

To my surprise the asian stock markets performed pretty well and the futures are pointing for a flat to slightly higher US session. I had a good profit on those, the month was very good so I do not need to push it very hard now.

I am still bearish, don`t get me wrong and I will sell short again later today if I see, or if I think I see, to be more precise further weakness in bonds and in equities. I still have a small XLF short position (11.90) that I opened yesterday when the market was plunging, that I will probably close when the market opens.

Regarding oil, I am a little bored with that position. Its not big enough to hurt me, but its not so small that I can cut it without thinking a little bit about it. No matter what happens in oil, I will have a very good month because of my very inspired S&P trading. Probably I should rename the blog to S&P Trader`s Blog. :)

Anyway it will be a volatile trading day in oil with the inventories coming out later and with the OPEC Meeting in Vienna. Maybe I can make up my mind on that position with all this new info.

Yesterday Marc Faber gave a very good interview to Bloomberg TV and said that Natural gas was the most undervalued commoditity. In his words "There are other forms of energy like nuclear and natural gas. Natural Gas is the most undervalued commodity right now." I like Faber. I will keep Natural Gas Futures and UNG on my radar screens.

Last thing, General Electric`s CEO, Immelt, said that the economy has hit bottom and that the capital markets have improved dramatically. This news can be a market mover for GE. Maybe we can scalp it on the long side during the US session. Shorts will have to cover their GE`s shorts on the news. Let`s try to make a buck.

I am expecting an emotional trading session in the US. We can have a pretty big move both ways.

Fasten your seat belts and put your helmet on.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Sea Of Red. Good For My Red Ship.

I am pretty confident that this sell off will keep going.

Bonds are in crash mode. I am glad that I have added to my shorts.

As I said before, patient pays and I am never impatient when I Know I am right.

As Richard D. Wyckoff once said, "speculation, in its truest sense, calls for antecipation." I could not agree more.

Today I will take my wife to the best restaurant in town. I deserve it today and she always deserves it. :)

Great trading session.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

S&P`s Selling Off. Reacting to Bonds

It looks like the S&P Futures are selling off, reacting to the weakness in the long term bonds. Yields are surging and that will affect the stock market.

Let`s see how this unfolds. We can have a major sell-off on the S&P Futures.

When I first posted, the S&P was at 905. Its trading at 897 now. We can have a brutal sell-off. Fasten your seat belts. I have added slightly to my shorts with XLF.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

I Always Like Listening To Cashin

This guy has been doing this forever. I always like to watch him. One of the only guys worth listening to on CNBC TV.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Trading Superstitions

I do not have many superstitions. I don`t even have faith or religion, I have the absence of belief in the existence of deities.

But I have my little market superstitions. For instance when I wake up and positions are running against me, or I have big positions on the market and I am expecting a very volatile day, I always dress up to the occasion. I mean, I wear my best suit, and one of by best ties. In these days only Hugo Boss, Cerruti or Armani ties qualify. Another superstition is to put on my One Million parfum by Paco Rabanne. Its box is a little gold bar.

I do that automatically and that makes me a little more confortable. I think I need the market to respect me in those days and that is why I wear by best clothes. If any phsycologist or a phychiatrist is reading this, please do your own interpretation and post it.

Back to business. I am still short S&P, not with a very big position (lots of room to add to this one) and a small short oil position. Oil inventories will come out later today (actually are coming only tomorrow because of the Memorial Day)and I may add to that position if it comes my way. Oil is trickier to short. All attention is neeeded.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Buy On Weakness, Sell On Strength

There is no better feeling then being bearish, closing a short position within a few ticks of the low and shorting again near the highs of the session. I was inspired today, and read the market pretty well in the morning.

Now I am short again, at 905 but sitting on the profits I have made so far this month. I am still bearish, I think the consumer confidence was influenced by the green shoots that the media has been shouting about and because of the surge on the stock market from the March lows.

These rallies as far as I can see are shorting opportunities and those that have been following this blog know that I like to sell short on strength and cover short on extreme weakness. Its my style, its my way of reading and trading the markets. Everybody needs a style and its difficult to emulate other styles. What fits me, may not fit you. But profits fit everybody as far as I can tell.

I feel like taking risks, I want to be agressive now because I am synchronized with the market but after this trade I am going to rest for a few days because this run cannot go on forever. Maybe I will go to Roland Garros and watch a few days of great tennis. Why not?

Despite having closed half of my crude oil short position early today, I am still off the money on that trade. I won`t add to that position. Its too dangerous to be short oil and do not want to expose myself too much to that trade. I will keep pushing the S&P`s. Its been far easier. I will profit on the oil position if I have a little patience and if the US dollar does not crash...

I went to play some tennis this evening. I need to exercise to keep mentally and phisically fit. As Marty Schwartz wrote on his book Pit Bull, "a great trader is like a great athlete". I agree with him.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

I am Short S&P Futures Again, 905

I am using my profits in my last S&P short position to short again. Bonds are weakening again and I think that will propel a sell-off in stocks.

Even if it doesn`t, I think it is a reasonable, not perfect, shorting spot.

Its much easier to trade when we are winning and way up for the month isn`t it?

Consumer confidence was much stronger then expected and it might fuel the rally even further. But Consumer Confidence has been influenced by the Green Shoots the media has been shouting about and the strong equity market.

If it were a real economic indicator I would be a lot more conservative and I could even go long instead of short. Take care. Don`t let them beat you.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Just Closed My Short S&P Position

I have just closed my S&P Futures position at 878.50. The financials opened strong and I fear that they might rally. Bank stocks are tricky and we never know what to expect. Maybe the upbeat moves in banks are related to this Bloomberg news, "JPMorgan Chase & Co. stands to reap a $29 billion windfall thanks to an accounting rule that lets the second-biggest U.S. bank transform bad loans it purchased from Washington Mutual Inc. into income". The usual mess.

I have also closed half of my short oil position so I am pretty light, sitting on the cash I have just made.

Maybe I will re-short S&P`s later on.

Have you read the article I suggested you in the last post? Very good material.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

It Will Be An Easy Trading Day

Well, well, well. Futures are underwater and I hear the sound of cash ringing.

It will be a very easy trading session because if I want to I can close all my positions and end the month prematurely, unexpectedly early. It will be a very good month, although as I told you, it did not begin so well. But patience paid and I am never impatient with my trading positions when I know I am right.

But these positions still have plenty of room on the downside, so the smart move is to close half and let the remaining part do the work. We can go to 850 in the S&P`s pretty soon and maybe 57 USD in the Crude Oil Futures.

And now, I will give the best trading advice you can ever get. When you close a good trade with a big profit, withdraw half of the money from your trading account to your bank. That is your insurance. If something goes wrong with any position you will have some more bullets to play in the future.

I recommend you read this article written by Mathew Barnes of Optionetics about the analogy between mastering the art of trading and mastering karate skills. Very interesting.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

New Week. Still Short S&P Futures And Oil.

I am still re-reading Pit Bull and I caught another great passage, "A great trader is like a great athlete . You have to have natural skills, but you have to train yourself how to use them".

As you know I am going to this week with short oil and S&P Futures positions. I have been trading the S&P`s much better then oil, having made severel dozens points trading the S&P`s over the last few trading sessions using a 3x leverage.

Regarding oil, I am stuck in a short position for a few days now, and I am using 1,5x leverage. I will not add to oil, because shorting oil is a very, very dangerous play. Huge profit potential, but huge risk.

I think the rally in risk is over. Oil is overbought, the economy is not supportive of 60 dollar a barrel oil and OPEC is beginning to cheat on their quotas. But in the short term, sentiment is 90%, fundamentals only 10% of the game. Even though I think the rally in risk is over and oil will come down no matter what happens to the US Dollar.

Let`s wait and see.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Long Weekend. Time To Think, Reflect and Re-Energise.

Long weekend. Trading will only restart on Tuesday because of the Memorial Day. I was just re-reading one my favourite trading books, Pit Bull. Its written by a self made trader, Martin "Buzzy" Schwartz.

Its fun reading and you can also learn a thing or two. I will just post here some of my favourite quotes from this book,

"The market does not know if you are long or short and could not care less.You are the only one emotional involved with your position. The market is just reacting to supply and demand and if you are cheering it one way, there is always somebody else cheering it just has hard that it will go the other way"

While I don`t think Schwartz was a truly great trader, he has made big money trading S&P Futures and knows what it takes to succeed.

One of my favourite parts is this, when Marty was down big and very worried about his trading position he called his mentor, a guy named Zollner and asked him for advice. His mentor answered, "When it gets so bad that you want to puke, you probably should double your position". I think the same way too. Its dangerous, but hugely profitable. So, the question is, you have to know the markets very well to win at trading, but even more important is to know yourself.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Bonds Are Selling Off. S&P`s Can Be Crushed.

I think I will make a ton with this short S&P position. Bonds are selling off, that will prompt some selling in equities.

Can we see some panic selling? Maybe.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Oil is Overbought

Bespoke have just posted their commodity snapshot in their website. Oil is way overbought.



"The green shading in the charts represents between 2 standard deviations above and below the commodity's 50-day moving average. When the price moves outside of this range, the commodity is considered either overbought or oversold.

As shown below, oil has rallied nicely but it is currently in overbought territory and at the top of its uptrend channel." in B.I.G. Website


Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Well, I am Short S&P`s Again

I took advantage of this early strength and sold the S&P short again. The bond market is selling off again and that will push the stock market down.

Sazonality is good today, the session before the Memorial Day tends to be a good one, but I think that will not be the case today.

My full short line is at an average price of 893 and I am using 3x leverage again.

Lets see if we test again 880. If the S&P`s can break through that level we can have a sell off.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Oil Trader`s Blog Gets an Award

Oil Trader`s Blog was considered by ETF Database one of most important blogs on Commodities and more specifically on Oil, where we appear second on the list.

Here is the link for the Top 50 sites on Commodities.

This is like the Hollywood Oscars. So I want a party, so that I can walk with my smoking on the red carpet. :)

Now its time to get back to business. Might be a very good day to do an intraday long trade on the banks. They were strong yesterday and may rally strongly today. I will keep you posted on this potential trade.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

Closed S&P Shorts. Still Short Oil.

Yesterday I could not follow the market in the last half hour of the session and I was quite surprised when I checked the S&P Futures prices in the after hours session.

I was expecting a sell-off in to the close and the market actually rallied. I think we are at a cross current in the stock market. Although I am still very bearish on the stock market my ticker sense told me to close that short position (again at 887). I already had a good profit and the market is behaving in a way that is not what I had expected. I profited 23 points, making it the best trade of this month. Considering that I had a 3x leverage, it really paid off.

This schizofrenic kind of action, shorting, closing short, shorting again is a true representation of what trading is about. We are never totally sure of anything. Sometimes we must test the waters. But it also shows me that I am needing the weekend to recharge. This is a very competitive and demanding business. Its like being a professional athlete, proper rest is indispensable.

As I posted yesterday, one of best traders ever says that "If I were walking along a railroad track and saw an express coming at me at 60 miles an hour, I would be a damned fool not to get off the track and let the train go by. After it had passed, I could always get back on the track, if I desired". I totally agree. I can always get back in if I want, but I had enough S&P`s trading for this week.

Now, I will focus on my short oil position that is being negatively affected by the extreme dollar weakness that I could not foresee.

By the way, the Friday before Memorial Day usually is a strong day in the stock market. Actually it ranks as the second strongest just after the session before Labor Day. Be aware. Don`t let them beat you.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage. Trading is not as hard as some think and definitely not as easy as some wanted it to be.

I Have Re-Entered Short

I have re-entered short on the S&P Futures at 887 (same price). The danger signals that I was refering to in the last post have eroded and I think its safe to sell short again.

I am going with only half the position I had, because no matter what, I will be well in the money on this trade.

This is real trading. You must reassess the positions at all times and run when you see the warning signals.

I recall a famous quote by the biggest trader of all time, "If I were walking along a railroad track and saw an express coming at me at 60 miles an hour, I would be a damned fool not to get off the track and let the train go by. After it had passed, I could always get back on the track, if I desired"

That is basically what I did today. I closed short my S&P`s on some warning signs and re-entered when they vanished.

Don`t let them beat you.

Oil Trader`s Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Closed S&P Short Position

I have just closed my S&P short position at 887. I don`t like the price action in the bond market nor in the banks. I am afraid of an intraday reversal and I have made a very, very good profit on this position.

Now I will focus on my short oil position.

Sea Of Red. Patience Pays.

Patience pays. I told you a few days ago that I am never impatient when I know I am right. Markets are flashing red all over the place and my S&P short position is doing great.

My overall shorts are profiting big and I have made my month. I will not close right away, but I also won`t let the profits evaporate if the market suddenly reverses. I will be able to rest for a few days, sitting on my cash, off course.

Futures Are Red. It Will Be a Great Trading Day

So far, so good. My short S&P position is more then 15 points in the money and I will let those profits run a bit more. Lets see how they open in New York.

My short oil position is 1.50 dollars off. No big deal. I am a bit frustrated by not antecipating this dollar collapse, but the US dollar found its foot and it seems like all risky assets are going to be sold off today.

I had some questions about the oil fundamentals and the inventories that came out yesterday. I think the rise is more dollar related then anything else, but the inventories are lower then previously expected. The market is still way overbought but maybe, just maybe the downside is lower then previously antecipated. I will closed it around even or with a small profit.

My profit in the S&P greatly excedes my loss in the Oil Futures, so I am very happy with the way this double trade is going.

I will leave with a remarkable quote from Stanley Druckenmiller, who is said to be the biggest money machine in the history of the financial markets, "The ability to accept unpleasant truths (i.e. market action or events counter one`s position) and respond decisively and without hesitation is the mark of a great trader."

Word On The Trading Desks:

"Oil's most active contract settled above $60 a barrel for the first time in more than 6 months after a government supply report showed stockpiles" in CNN Money

"Crude first cleared the $60 hurdle in 2005, when the world economy and demand were growing and supplies were struggling to keep pace. Today, demand is shrinking for the first time in decades, leaving many baffled by the rally." in WSJ

Even Steven. S&P Down, Oil Up.

It looked like it was going to be a very bad trading day, but the S&P reversed and closed well in the money. So, all said and done I was even for the day. I am a bit worried about these moneyless period. I am just a little to the good this month, this is the most challenging month of the year so far for my trading.

I am very confident in my short S&P position and I will let the profits run a bit further. Regarding oil the problem is a bit more complex because I could not antecipate this dollar weakness that can easily get out of hand and become a dollar crisis. Jim Rogers has been talking about a dollar crisis over the last few weeks but I was certainly not expecting it so soon.

So, oil is way, way overbought but because of this sudden oil weakness my short oil play is less appealing that I thought. I will probably close the short position on the first pullback, probably around my average selling price.

The difference between superior traders and the rest of the pack is the ability to win big when the trader is right, and lose little or nothing when wrong. Lets see if can close this not so good trade with a small profit.

I don`t have much time to further considerations, It was a long day with endless meetings. Tomorrow I will be back on the trading desk.

Tough Day. Out of The Office

I am having a tough day, with both the S&P Futures and the Crude Oil Futures moving against me. I have a few meetings today out of the office, one of them with a magazine, so I will post at the end of the session.

The dollar is very weak today and is impacting every other market. It seems like I will be a few thousand dollars lighter at the end of today. We cannot always win, can we?

It Turned Out To Be a Good Day

S&P Futures reversed and I am profiting in my short position.

Oil is being a bit stubborn and the prices seem to defy gravity. I have seen this before, nothing new. Sooner or later reality will set in and Crude Oil prices will succomb, will give up unresistingly, to the facts, to underlying conditions. Fundamentals dictate lower prices and the market is way overbought so it will be difficult to trade higher from these levels.

All said and done, Crude Oil Futures will trend lower.

I will leave with the conclusions of a study about what traits make traders sucessful, "persistence, patience and a willingness to take risks." No pain, no gain.

Futures Are Red. Cash Coming In.

Oil and S&P Futures have reversed and are trading Red. That`s the way I like it.

It looked like it was going to be a bad day, but reality set in with the poor US Housing Data. I am well in the money now. ~

When I know I am right I never feel impatient with my market positions. If the market rallies and disregards underlying conditions, I will simply wait.

Oil Trader`s Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Just Added to My Shorts

Futures are green today so I am not beginning the day on the right foot and I am a few thousand dollars lighter. Still, I am up for the month but only slightly. It has not been easy this May after a very strong March and April.

I took advantage of this early strength and just doubled my Crude Oil short position at 60.50 and my S&P Futures position at 915.5. I will probably be off the money for a few sessions, but when I know I am right I never feel impatient.

As Richard D. Wyckoff once said, "speculation, in its truest sense, calls for antecipation."

I am Short S&P Futures at 907.75

As I told you a few days ago I was looking for a new opportunity to short the S&P Futures again. Well, here I am. I have shorted S&P Futures after the close of trading today at 907.75.

In my NYMEX Crude Oil Futures position I am off the money by over 1 dollar per contract. The problems in Nigeria and the rally in equities were to much for any short position to prosper.

I like to sell the S&P`s on strength and buy then on extreme weakness. Let`s see if the market sells off in the next few trading sessions.

I recall a Jim Cramer famous quote, "We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must."

Note that I don`t like Jim Cramer`s comments, but this is an interesting quote from him. Take care.

Quick Scalp on the S&P Futures

I just did a quick long scalp on the S&P Futures for 2 full points. I opened a small 5 contract position, even though it felt good.

These fast trades, always appeal to me. I like to mix them with my other in depth, deeply thought structural positions.

I will take a part of this profit and go out to dinner with my wife to a fancy restaurant. We both deserve it and I think we should always reward ourselves when the trading is going our way.

Oil Trader`s Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Taking Advantage Of The Oil Rally. I am Shorting Again.

I have just shorted NYMEX July Crude Oil Futures again at 58.52 USD. I came later then usual to the office today and I am still catching up with the news, the market movers. It seems like the upmove move is related to some problems in Nigeria. These kind of problems normally just cause a small upmove in prices that is only temporary.

I think its a good time to re-enter my short position.

Oil Trader`s Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Looking To Make An Intraday Play

It sure looks like I did well to close my short oil position on Friday. Oil is rallying strongly today as all risky assets are moving up.

Today I will probably make an intraday play on the financials as they look poised to rally. It will be a "go with the (institutional) flow" kind of trade as I talked about before.

I found another good quote from Alexander Elder that I want to share with you, "That is exactly what a good trader does. He recognizes the market as chaotic and unpredictable much of the time, but expects to find an island of order. He traind himself to buy ans sell without quibbling when he finds those patterns".

Have a nice trading day. I will post again if I make some new trade.

Oil Trader`s Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Sucessful Trading

Markets are closed today so its time to think and reflect.

I found a good summary of what sucessful trading is all about in Alexander Elder`s book (that I have not read yet). So it go like this

"Sucessful trading depends on the 3M`s - Mind, Method and Money. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options or futures as well as firm rules for pulling the trigger - deciding when to buy and sell. Money refers to how you manage your trading capital."

I have never met Alexander Elder and don`t even know if he is a sucessful and profitable trader. But he describes it really well.

I am listening to Hotel Costes while posting. Very good sound. I always work and trade listening to music and these chill out Hotel Costes`s series by Stefane Pompounac are one of my favourites. To energize myself before and while trading I use The National and Editors. Pretty good alternative rock music.

Have a nice weekend.

Oil Trader`s Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Have I Lost My Position? What Will The Next Trade Be?

I closed my short oil position prematurely. I made over a dollar per contract but if I held the contracts till the close of the session I had profited over 2 dollars per contract.

Should this annoy me? I don`t think so. The most important thing in trading is to be consistently profitable and to be in a position to keep winning. I am looking forward to next week and I will try to find some good trading opportunities.

I am confused with all this inflation debate. There are very intelligent people (like Jack Welch, Rick Santelli, Marc Faber) expecting big inflation ahead and very smart people expecting a persistent deflation (like Hugh Hendry). I must make up my mind because my trading selection depends in which camp I stay.

I have been in the deflation camp but I am not so sure anymore. And the economy is stronger then I expected, at least judging from today`s economic reports. So, I will need to re-analyse my fundamentals, because without a solid fundamental framework I cannot select my trades. The rest is all about market timing.

Have a nice weekend.

Oil Trader`s Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

I Closed My Short Oil position With 1.20 Point Profit

I have temporarily closed my Crude Oil Futures short position with over a thousand dollars profit per contract. I am afraid that with these economic data (stronger than I expected) risky assets might rally today.

I am playing it safe, because I think that Crude Oil has a great downside potential, but I am also a market timer and my tape reading instincts tell me that it it wiser to close the position for the time being and re-analyse it later today or Monday.

Besides that, my weekend will be a lot more relaxed knowing that I am not carrying a big position over the weekend.

Best luck with your trading today. Don`t let them beat you.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Oil Futures Are Printing Red. My Favourite Color

Crude Oil Futures are printing red in my interactive Brokers trading plataform. That is the way I like it. Its the sound of cash coming in.

The US Dollar is strong today and that is definitely a plus for my position. We can have a 2 to 3 dollars move in the oil futures contract.

Still Short Oil. Invite Your SO to Dinner.

Today I rolled over my June Crude Oil Future to July. The July contract will be the most active from today.

Oil Futures have been a lot stronger then I expected. I attribute that to the upbeat sentiment in equities and in risky assets in general. But as I said before underlying conditions are bound to prevail and reality will set in and lower prices will follow.

Will it be here and now? Will it be 5 dollars higher? I don`t know.

Even though I am still short the NYMEX Crude Oil Futures at 59.42 dollars a barrel and I am very confident that this trade will be a good one.

Have you noticed the collapse in the contango? Its under a dollar in a month period. This is the lowest contango I have seen in almost a year.

Regarding equities I am still bearish and expecting lower prices ahead but I want to short the S&P Futures at higher levels. I can miss that trade if the stock market trades lower from here without rebounding, but I have a strong short position in oil and I would like to have a decent profit on that play before I commit any more capital to the market.

I will leave you with one of my favourive market quotes from Richard D. Wyckoff, "speculation, in its truest sense, calls for antecipation."

Have a nice trading day and if you are profitable today, withdraw some money and go out to dinner in a nice restaurant with your significant other. Trading is not a viable long term business if you don`t reward yourself and the ones surrounding you when things go well. Keep that in mind at all times.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Quick Trades. Breakeven.

I lost a few ticks in my FITB intraday play and also did a quick profitable scalp in the S&P Futures near the close of trading. I broke even in these out of standard, out of norm trades. Sometimes I do little scalps on the long side in the S&P Futures in the last minutes of the trading session and I have already made a few thousands dollars with this type of trades.

I am still short Crude Oil Futures and that is my only structural position. It went a bit against me but is still very near my entry point. I am considering about a new short S&P position, maybe tomorrow or early next week.

Have you seen the Initial Claims Data? Pretty bearish, not? I did not hear the words "Green Shots" today on CNBC. Markets will go down, they cannot fight conditions, can they?

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Tired of CNBC Commentators

I am really enjoying this project.

I am tired of those CNBC and Bloomberg commentators that always say they make everything right.

I think that only about 20% of them are really profitable and only about 5% of them could live only the money they make trading their accounts.

When I trade I post. If I get burned maybe we can all learn something from that trade. When I win, I´ll show you the mindset that leads to good trades and the merits of a good analysis. No half right projections, no bullshit. My mouth is where my money is.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

I am Bored. Let`s Make a Trade

Quiet trading day. I made a very small intraday play (completely out of my usual style) in FITB. A typical "go with the (institutional) flow" kind of trade that I make when I don`t have anything else to do. That position is out of the money, but its only a chicken`s feed position. I think I did it mainly because I was bored. I will tell about how that trade turns out in the end of the day.

I am still short oil with a big position, as I am waiting for a big correction in the next few trading sessions. This is the position I am focusing on and I have waited several weeks to find a good shorting opportunity in the NyMEX Crude Oil Futures. I have certainly increased my odds of profiting big in this one.

The Initial Claims data in the US came higher then expected, with continuing claims at an all time high. The Jobs picture is not improving and I don`t think we will see many more green shots (as they say) in the near term.

I was bored to death in a meeting with some Fidelity`s representatives that were trying to convince me into mutual funds. I did not even know that Mutual Funds still existed. :)

Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Still Short Oil, Commodities About to Roll Over

Crude Oil fell today shrugging the good news that came out on the Inventories Data. Art Cashin spoke today about a false dawn in commodities that started when the chinese announced their stimulus plan and I agree with him. Commodities are about to roll over.

I always like to listen to Art Cashin. He is practical and insightful.

So, I am still short NYMEX Crude Oil Futures and I expect them to hit the low fifties in the next few trading sessions. Demand is still going down, and OPEC members are beginning to cheat on their quotas, causing supply to go up (simplistically speaking).

So basic conditions call for lower prices ahead. The fact that the market is overbought also helps, and we may see a big drop in oil prices in the days ahead.

I made a few bucks today, nothing to write home about. Still, black ink is much better then bleeding. So after beginning May with the left foot I am now a little to the good. This short oil position will determine how well I will do this month.

As Jesse Livermore once said "There is a great deal in starting right, whatever the enterprise may be" and this trade is starting right. Lets see how it plays out.

Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

I Have Doubled My Short Crude Oil Position

I greatly appreciate the comments from the visitors and members of this community that is growing larger and larger. I like the interaction and the different views you bring to this website, so thanks for participating.

Back to business. I have just doubled my short crude oil position. The Oil Inventories came out and were a lot more bullish than antecipated. The market rallied a bit on the news and sold off again. I just feel we are very near a short to medium term top in the oil futures markets.

Even though, trading is a risky business and at anytime all the pieces completely fit. I am worried about the dollar weakness and that is the main threat to my short oil position.

But I also have the strongest of allies in my camp and those are underlying conditions. Plus we have a very overbought market. So I am very optimistic on my short position. Lets see how it plays out over the next few days.

OPEC came out with their monthly report and I encourage you to read it here.

The stock market is quite weak but I have already closed that short position on the S&P Futures and I will focus on oil for the time being. I like to have, if possible, only one position at a time.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

I am Short NYMEX Crude Oil Futures

I don`t think I am going to open any new position today, but I was expecting to see the futures green this morning after the Intel news in the after hours session.

I will keep my short NYMEX Crude Oil Position and I may further add to that short position. Oil Inventories will come out later today and will certainly be a market mover.

Forex markets have been quite active lately and I may look for a trade there. There is an interesting article on CNBC about the possibility of the US Debt being downgraded and its implications.

I have been positive on the dollar and was about to open a long US Dollar / Short Euro FX position, but I think I will wait a bit more. Things will get pretty volatile in the currency markets. Fasten your seatbelts!

I was so tired yesterday of all this market trading activity that I went to play a tennis in the afternoon. It always helps my trading to exercise. Its one of the most important things to keep mentally fit.

Trading is a very trying business that strains one`s temper. So exercising regularly or having some other activity like meditation is a must to keep trading day in and day out at the top of one`s game.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

What a Great Trading Day

What a great trading day.

As I said in the last post I was having a tough month after a fantastic trading performance in April.

Have you ever heard that its better to be lucky than smart? Well, today I feel both lucky and smart. I closed my short S&P Futures position at 896, pretty close to the lows of the session. I lost 2 full points in the contracts that I was carrying, but it was enough to put be back in the plus column for this month.

I had a few scalp trades in oil and despite losing some bucks in this ill timed short position, I am again profitable in May.

Now I only have the short oil position, but I am very confident that I am going to make a few points in that position. Oil was lifted by the positive sentiment in the stock market and I think being long oil at these levels is a pretty asinine play. Time will tell if my confidence in this trade is misplaced or not. Have you read the Krugman article I have recommended you?

Have a good trading day. I will be back tomorrow.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Finally, I am In The Money This Month

Nice reversal in the S&P Futures and in risky assets in general.

I was having a tough May but I am already in the green for the month. My short S&P position is almost even, and I am profiting on the short oil position.

I see a major correction coming.

Read Paul Krugman`s today comments on the economy here. Good material.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

US Dollar Weakness Impacting My Short Oil Position

The US Dollar is extremely weak again in this early trading. I think this is the biggest threat for my oil short position today.

How this dollar weakness is going to affect stocks and bonds, I am not sure yet.

But this is a very big move in a few days and that video about the off balance sheet losses by the Federal Reserve is one of the reasons behind this move.

It seems like I will have added pain in the oil position but I am not sure about the S&P. Lets see how the session unfolds.

Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

I am Fading This Rally in Risk

I am fading this rally in risk that has been going on for the last 9 weeks and I am short S&P Futures and NYMEX Crude Oil Futures.

The futures are green early on, but I think markets yesterday began reversal that will lead us to a correction in the S&P. Oil is rallying in Globex and is trading over 59.40 dollars a barrel.

After a fantastic month of April, where my personal account appreciated over 40% I am having a tough month in May. My two positions are cutting about 8% of my account, but I am confident that this rally in risk, this unintelligent bullishness is misplaced and the bulls are going to be scared off their positions. We can`t always win, can we?

The price of NYMEX crude oil reached 59.49 dollars a barrel on Tuesday, the highest level for six months as the US currency slid against leading currencies. I see a really great opportunity shorting oil on strength.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

It Turned Out to Be a Good Trading Day

It turned out to be a pretty good trading day. My big S&P Futures short position gained a few points and my NYMEX Crude Oil Futures ended the session in the money.

I think I will make over 5 full points in the Crude Oil Futures short position over the next few trading session. As I said before, the Supply / Demand situation is not compatible with an almost 60 dollar a barrel oil.

In the S&P Futures short position I am off the money almost since the moment I put the position on. Maybe today`s action is a reversal of fortunes for the shorts. S&P Futures will correct to the 850-870 area in the next few trading sessions.

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Futures Are Red. My Favourite Color When I am Short.

After a persistent sequence of green days it seems like we will see some red today. I love red whenever I am short. I am even wearing a red tie today. Everything helps.

I am short S&P futures and and I am short June Oil Futures again at 58.58 USD. The market is extremely overbought and everyone who bought in the last few days are going to witness pain. I expect a major correction here.

The quote of the day goes to George Soros, one of the greatest of all time, "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.".

Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

I am Going To Short Oil Again

After a very good run, this month is being a bit tough. I have shorted the S&P Futures several times for a profit in April, but in May my short position is 30 points off the money.

My view is that the market is overbought, the market sentiment is almost hysterical. Things will slowdown for sure and this week the market will probably correct somewhat.

I am planning to short oil futures again early this week. The demand / supply situation is not consistent with almost 60 dollars a barrel oil. Oil is being pushed up in this risk rally, as Hugh Hendry so nicely puts is, and will get back to terms soon.

I recall one of my favourite Jesse Livermore quotes, "But I can tell you after the market began to go my way I felt for the first time in my life that I had allies - the strongest and truest in the world; underlying conditions."

Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.

Carrying a Losing Trade Into the Weekend

S&P is strong after the Employment Report, it seems like I will go with my positions off the money to the weekend.

I am short at 894, losing almost 30 full points in my futures contracts. The S&P Futures are up over 40% from their low early March. Everybody is bullish now, especially on CNBC. I am expecting a big and dramatic pullback on the market that might take the S&P 500 to the low 800`s.

I am carrying a big short line and I am annoyed with all this unintelligent bullishness.

By the way, I did well to close my Oil Futures Contracts yesterday. They are trading back up today and I am planning to short them again later today or early next week.

Trading is never easy, is it?

I need a rest. This week was exhausting...

Stress Test Fireworks. Still Short S&P

Stress Test fireworks impacting the futures early on. I am still short S&P Futures and waiting for a severe correction.

Jobs Data are a threat. ADP early in the week came better than expected and the data will cause volatility. Even though I think the market will end the day lower no matter what the jobs number is going to be.

I closed my crude oil short position with a 2 full points gain in the NYMEX Oil Futures. I don`t want to go overextended to today`s session. This way I still have some ammo left to play if things go against me today.

Traders Blog is a website for active online futures traders. We provide research and relevant oil, energy and stock market related news for futures traders.

Oil Is Up Over 70% in 3 Months

Oil has been moving sharply higher over the last couple of weeks, and it is now up 71.15% over the last 3 months. A move of this magnitude in any other market would normally be getting front-page headlines, sparking fears that energy prices would "break the back of the consumer." But since the consumer's back is already supposedly broken, nobody seems to care -- yet.

But rest assured that a continued increase in prices at the pump will start to be felt at some point, causing another area of concern for both the people that consume it.

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.

I am Short Oil and S&P Futures: Rally in Risk Is Coming To an End

Benchmark U.S. crude oil futures held steady near 57 dollars a barrel Thursday in Asia after a round of short covering from traders in Japan, who returned from the Golden Week break.

Sentiment continued to find support from surging regional equity markets, amid renewed confidence in the outlook for the global economy, or so says the Press.

I think its time to sell Oil short and to sell short all risky assets. The rally in risk we have seen in the last few weeks is coming to an end.

I am short oil at 57.89 and am I short S&P futures at 894.

Interesting comments from Christopher Zook, CIO of Caz Investments that is think best describe what is going on the stock market:

“There’s a whole lot of money on the sidelines that is worried the train has left the station without them, in other words they're fearful they’re missing this move."

“After being down last year there’s no way money managers can excuse being down this year and not participating in the rally. So we’re seeing panic buying which leads me to believe the rally is almost finished.”

Oil Traders Blog is a website for active online futures traders.

Oil Inventories Rose Less Than Expected

Crude-oil futures rose Wednesday after government data showed U.S. crude inventories rose less than expected last week. Crude inventories increased by 600,000 barrels in the week ended May 1, the Energy Information Administration reported.

Oil Futures are trading up 4% nearing 56 dollars a barrel on Nymex. I think its a good time to short oil. oil has benefited from stronger risk appetite and uptrending equity markets, but the supply and demand situation still points to lower prices ahead. I am adding to shorts here.

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.

Oil is Getting Overbought

Which commodities are overbought and which are oversold?




I found this analysis on the Bespoke Investment Group website. They usually post some interesting research on their website.

"The green shading represents between 2 standard deviations above and below the commodity's 50-day moving average. When the price moves outside of this green shading, the commodity is considered overbought or oversold. Oil is pretty close to the top of its trading range, and the last time it moved above the green shading, it pulled back pretty quickly. Natural gas is the closest to oversold territory and continues to trend downward. Gold, silver, and platinum have broken their uptrends recently and are approaching the bottom of their trading ranges. Copper, corn, wheat, orange juice, and coffee are closer to the top of their range than the bottom."

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.

How Are Commodity Futures Performing YTD?

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.

Buffett Still Skeptic on Recovery

“There’s no signs of any real bounce at all in anything to do with housing, retailing, all that sort of thing,” said Warren Buffett in a Bloomberg Television interview before the Omaha, Nebraska-based company’s annual shareholder meeting this weekend.

“You never know for sure, even if there’s a leveling off, which way the next move will be.”

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.

Shorting Oil on Rallies

The presence of a huge inventory overhang and continued bearish inventory dynamics in the U.S. suggests prices might well remain stuck in the current range or trade down from these levels.

I am shorting oil on rallies.

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.

Abby Joseph Cohen: S&P May Jump 20% in 6 Months

The S&P 500 may jump 20 percent to 1,050 over the next six to 12 months as investors buy stocks trading at low valuations, said Abby Joseph Cohen, Goldman Sachs Group Inc.’s senior investment strategist.

“You could see the market sustain at these levels,” Cohen, 57, said in a Bloomberg Radio interview. “We’re going to set a new trading range much higher than the trading range in February and March.”

I don`t agree. I think the market is overbought, the economy will not grow any time soon. At best we will trade around these levels in a boring trading range. But my feel is that a big correction is coming.

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.