Crude Oil Reversal Profit

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Exited Short Bonds position using etf ‘TBT’ Mar15 42 CALL.

Long position in Crude Oil @ $51 to exit on close or at $52.50 Stop.

This Report’s Summary: CRUDE OIL broke through hourly upside trigger price @ $51.

Our Considered Response: Exit at close or on Stop @52.50.

Our CRUDE OIL Chart Follows:

Well, even though crude oil prices stayed for hours below our expected trigger price denoting lower prices, the time was not enough to overcome increased buying pressure. This, in the end was enough to take out our upside trigger of $51 today and, by at least $2 at that at one point.

wtiI’ve switched to the hourly charts to follow this market.

The current stop on the $51 entry is at $52.50.

This is a close stop on this trade, but, this is a volatile market that can reverse it’s direction in the short-term in a heartbeat.

Exit before the weekend and take the profit on the trade or on the Stop @ 52.50.

There’s just too much that can happen over the weekend.

The Bond trade has worked well to date and the options have been up over 40% during the day.

Suggest an exit today or one may hold over the weekend.

As the options are for March the decay in value over the weekend enters into the calculations. I opt for locking in the gains at over 40% today.- George

  • February 13, 2015