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Closed My Short OIL Position With a Full Point Profit

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

I have temporarily closed my Crude Oil Futures short position with over a thousand dollars profit per contract. I am afraid that with these economic data (stronger than I expected) risky assets might rally today. 


I am playing it safe, because I think that Crude Oil has a great downside potential, but I am also a market timer and my tape reading instincts tell me that it it wiser to close the position for the time being and re-analyse it later today or Monday.

Besides that, my weekend will be a lot more relaxed knowing that I am not carrying a big position over the weekend.

Best luck with your trading today. Don`t let them beat you.

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.