Interdum stultus opportuna loquitur...

Sunday, July 10, 2005


Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

Yesterday's USRant waffled on about the short advocated in Crude Oil; for more than half of one paragraph I got the proces wrong by $10 a pop. I've bolded the text in the citation below:

The offending citation is as follows:

It doesn't matter now whether readers are prepared to credit yesterday's entry of the $61.50 to $57.45 into the Rant Record (I still think it was a perfectly valid thing to do), since now the $51.50 level can be seen as today's entry. I will run two versions of history for this trade: one where the trade was executed based on my 'pop and drop' outline as reiterated yesterday (with a half-lot being closed with 100% profit and the rest still riding), and one where that trade was missed but the entry was made today at $51.50 (the entry I spoke about yesterday).

Now, Blind Freddie (and his compadres Retarded Billy and Divvy Ken) would have been able to nut out that I was talking baout $61.50, since it makes no sense to try and short $51.50 when the thing is trading above $61... (in any case, selling short with an erroneous entry price of $51.50 would have got you short at whatever level Crude was trading at the time).

Still, I don't want folks to think that I was advocating a breakout short if Crude dropped far enought to breach $51.50... that would be suicidal.