Tuesday, 8 January 2008

Stopped out of Oil Short

Oh well, I'd increased my Oil short yesterday, hoping to get bigger as the market fell and using a stop loss to lock in some profits from the initial trade, but I've been stopped out today on a decent rally in the market, about 1.5 points higher up to almost $97 at one point. My stop of $96.34 on the March future was hit.

3 Day March '08 Crude Oil (NYMEX) Chart

So am once again flat crude, but have pocketed $1200 here which offsets the $1200 I lost last month. Lol!

I'll wait for the next bit of hysteria to short it.


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