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I am Short Crude Oil Futures

|Includes: SPY, The United States Oil ETF, LP (USO)

I don`t think I am going to open any new position today, but I was expecting to see the futures green this morning after the Intel news in the after hours session.

I will keep my short NYMEX Crude Oil Position and I may further add to that short position. Oil Inventories will come out later today and will certainly be a market mover.

Forex markets have been quite active lately and I may look for a trade there. There is an interesting article on the CNBC homepage about the possibility of US Debt being downgraded and its implications on the value of the dollar. 

I have been positive on the dollar and was about to open a long US Dollar / Short Euro FX position, but I think I will wait a bit more. Things will get pretty volatile in the currency markets. Fasten your seatbelts!

I am doing an experiment on my blog, posting all my trades in real time and my market thoughts. Lets see how that plays out. Having a nice trading day.


Disclosure: Short Crude Oil Futures