I have been pretty trash with oil trades.. but this time I believe oxy will reach new all-time lows.
There is much uncertainty from investors which makes this a perfect short IMO, I have a 5/8 buy put... didn't short at $17 simply cause I was at a huge loss from some other trade (not enough capital.)
I think we will revisit $12 by today and continue to make lower highs throughout the week. This won't stop Donnie Pump from tweeting but there isn't much more he can do right now. The oil cuts aren't enough to ignore the fact we will run out of storage.
Good Luck!
There is much uncertainty from investors which makes this a perfect short IMO, I have a 5/8 buy put... didn't short at $17 simply cause I was at a huge loss from some other trade (not enough capital.)
I think we will revisit $12 by today and continue to make lower highs throughout the week. This won't stop Donnie Pump from tweeting but there isn't much more he can do right now. The oil cuts aren't enough to ignore the fact we will run out of storage.
Good Luck!
Comment:
Exited buy puts on OXY at 12.15 or so (noticed a breakout from a descending wedge) made 30% profit!