Light Crude Pop

China’s stimulus package has helped oil up to above $65. I didn’t get to buy more because I thought it may move lower before it moves higher. I started to pickup a few contracts here and there when light crude traded just above $60 last Wednesday hoping it may move lower before I jump in with a big position but it didn’t. $65 is a fair price in my model. I should take half of my profit now and let the other half ride and see how it goes today. If market condition doesn’t change and it moves above $67, I’m taking the other half of my profit and wait for a pull back.


Buy Light Crude

Light Crude is at $60.70. I’m going to buy a little and see what happens tomorrow. I’m going to long it all the way down to $50. If it goes down to $55 range tomorrow, I’ll buy more.

Here we go again. Light crude below $64.

Light Crude is at $63.79, below $64 again. I’m going to wait a little bit to see if it goes down some more before putting on my trading range trade which has worked well for me so far.

Bought some crude oil

Crude is at 67 and change. Maybe a bit over shot to the down side during New York section. Pack up a few Jan’09 futures contracts and hoping to make a few quick bucks.