51.91 Was rejected nicely, opening a short with TP $49
Komen:
Also the hourly is nicely setup for some downside
Komen:
Furthermore this is an area with great reistance as seen in the weekly, which is also exhausted.
Komen:
Added to my short at $53.35
Komen:
Added to my short at $53.11
Komen:
Final add to my short at $53.05, SA's prince could fart and oil would pop. This is a joke. (excuse my language, but it suits the theatrical nature of this situation)
Komen:
Enter: Panic Selling
Komen:
The Call to Put ratio has been hovering around all-time highs which leads me to speculate that as buying decreases (all longs are already bought in) there is no option but to book profits which will cause a chain reaction and with some help from sleeping bears to push oil to my initial target and slightly below. Thus, I will sell 50% of my position at 48.75 to avoid any troubles with the margin man and then then the rest at HCL.
*Note: I suspect the trigger has been pulled for the chain reaction due to the volume spike
*Note: I suspect the trigger has been pulled for the chain reaction due to the volume spike
