RE:Oil downUnlucky13 wrote: U.S. jobs report has spiked US dollar and sank Can Dollar. Oil is dropping hard and fast. Oil is near yesterday's low, we could see a new low in BTE of $10.12. Touching the 9s on even an intra day trade is possible. I bought way too soon, this swoon might last 2 to 3 years. If I was long, anything near $50 oil should be sold because oil looks like it will touch the 30s. There is no clear rebound or rush to buy BTE. Analyst targets should be slashed very soon.
@Unlucky. You must have been sweating yesterday with BTE going green and oil down. Yesterday was telling, not the whole story yet, but it was interesting to see the energy stocks up and oil down quite a bit. Oil is steady right now, even with the jobs number out. It will be an interesting day, but I feel we are closer to the bottom of oil than the top. Good luck shorts. You are going to get squeezed once the summer doldrums are done and the traders come back from holidays.