Friday, 21 December 2007

Stopped out of my Oil Short

I'd shorted some Feb '08 Light Crude futures a few days ago here, well I had put a stop on it 2 points higher, which just got triggered today ($93.31).

So am out for now, taking a $1200 hit.

3 day Oil Chart

Will keep an eye on it, may look to fade a strong rally to get involved again. Xmas markets probably too thin and can squeeze pretty far in either direction, so OK to be out for the moment and wait for a better entry.


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