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It Turned Out To Be a Good trading Day

|Includes: DBO, SPDR S&P 500 Trust ETF (SPY), USO

S&P Futures reversed and I am profiting in my short position. 


Oil is being a bit stubborn and the prices seem to defy gravity. I have seen this before, nothing new. Sooner or later reality will set in and Crude Oil prices will succomb, will give up unresistingly, to the facts, to underlying conditions. Fundamentals dictate lower prices and the market is way overbought so it will be difficult to trade higher from these levels. 

All said and done, Crude Oil Futures will trend lower.

I will leave with the conclusions of a study about what traits make traders sucessful, "persistence, patience and a willingness to take risks." No pain, no gain.