It turned out to be a pretty good trading day. My big S&P Futures short position gained a few points and my NYMEX Crude Oil Futures ended the session in the money.
I think I will make over 5 full points in the Crude Oil Futures short position over the next few trading session. As I said before, the Supply / Demand situation is not compatible with an almost 60 dollar a barrel oil.
In the S&P Futures short position I am off the money almost since the moment I put the position on. Maybe today`s action is a reversal of fortunes for the shorts. S&P Futures will correct to the 850-870 area in the next few trading sessions.
Oil Traders Blog is a website for active online futures traders. I will provide my real time trading decisions and my market thoughts on this webpage.