Play it again sam... without the vomit...
I hate to see these little jerky movements at night. They often act as contra-indicators on the direction oil will take the next day...
For example, last night, oil trickled up a little only to tank miserably today. Again tonight so I'm kind of expecting more o f the same. Difference is I'm holding the wrong direction to "tank"... LOL
Will probably stop out in the morning before I get too deep into trouble...
Some asked how much I had in... only 5000 shares so it's not the end of the world... Just hate giving up chunks like that.
And heh - you never know, the great manipulation could have a repeat performance. Actually, I think that's what was in the back of my head today as I was buying. The rally last week seemed to ignore the inventories and Contango still hasn't corrected itself yet although getting narrower. It would appear oil should be just a little higher than $41... and Obama is booting some speed packages out the door this week so the market exuberance should get a little lift and POO should track in that northerly direction.
If this market were straight fundamentals ? Oil should be about $25 right now. So this was kind of a contrarian to fundamentals play for me today and when I came out of the trance I realized... wow - I should be sitting this one out to see who doesn't have a chair when the music stops.
It should be interesting... and obviously I can afford it if I'm wrong.
GLTA