Loading ...Oil Short-Stay the course
For those aware of my Big Trade for 2017-the oil short, I am staying the course even after the recent drop. I will be posting tomorrow on the Rambus board if approved. I have been successfully short in a managed trade since Early March from the $52 level. This has allowed me to capture more of the gain than just the linear drop from 52-42. There have been some voices out there who have been steadfastly bullish since that level. I certainly have gotten trades wrong as well, but one needs to recognize the trend and go with it. Why not focus on the analysis that has been consistent with the actual market move. Come on over to the Rambus site and take a look at a provocative post.
Here is the teaser:
Thank you Plunger, I participated in shorting oil from $52 (to around $49) based on your analysis, much appreciated!!! However sentiment was extremely bullish at that time, so many people calling for $60… now I am seeing calls for mid 30s all over the place, including fast money. You have certainly been accurate in your analysis over the past few months, but does shorting here make sense?
From this level shorting with a new position with fresh money only makes sense intra week and on a tight leash with a liquid vehicle. Short selling is an art… a learned craft. One has to know when to push his position. I will be discussing the why and how
Very interesting, thanks for taking the time to respond. Regards,