Investing Adventures » Crude

Alert: Crude Tops $139, $150 End of Week?

Jorge — Mon, 16 Jun 2008 13:15:36 +0000

Quick update on the crude front. Crude just hit $139.89 early this morning which may be the reason why futures have taken a large hit pre-market. Crude is currently trading at $138.35. I know Goldman and others were predicting crude to $150, but who knows. Maybe we’ll see $150 by the end of the week?

Playoffs at the U.S. Open

Jorge — Mon, 16 Jun 2008 00:56:12 +0000

Tiger Woods just made a clutch birdie on the 18th hole to force a playoff. This man is just a beast. Coming back from being out 2 months due to surgery to force a playoff for the win is just incredible. As a result, we have another 18 holes tomorrow. Updates to come including why LEH and AIG might be a buy and why crude should fall somewhat tomorrow.

Daily Recap and Crude Status – May 21, 2008

Jorge — Thu, 22 May 2008 01:29:01 +0000

As of this post, crude hit $135 a barrel. That’s right, $135. This morning, crude was hovering around $132. Since I’m in a crummy mood and enjoying my Wii Fit, I’ll keep this update short.

Trades Taken

1 x NQ
-3 x BBD June 25 Call

Profit / Loss for the Day / Open: -$135.00 / $0.00

Overall crummy day. Need to stop trading while distracted. My portfolio is now liquidated and will remain so until Tuesday. See you tomorrow!

Oil Over $130…

Jorge — Wed, 21 May 2008 12:07:27 +0000

How much longer can the markets continue to hold out with oil running as if it was being chased by a maniac? Oil topped $130 this morning to $130.41 before pulling back a few cents. My theory is something has to break. It’s either going to be the price of crude or it’s going to be the markets. While I’m not a permabull or permabear in any sense, my bet would be on the markets cracking sooner than crude. We will never see gas under $3 / gallon again if you ask me. Sigh…

Daily Recap and Status – May 9, 2008

Jorge — Fri, 09 May 2008 20:02:08 +0000

The action today was anemic. Now I understand what folks like Dinosaur Trader and others complain about when the markets behave like today. It also didn’t help that oil reached a record $126.22ish at its high. Visa took another hit today, down another 4 points. It’s reaching my entry/exit target of ~$81. My feeling is that folks will begin to buy Visa next week and perhaps pin it near the 85 strike price but only Monday can tell. There’s quite a bit of call open interest from 80, 85, and 90, so I would expect Visa to recover rather nicely. With the larger bankroll I have, I’ll probably purchase one or two May 85 calls and one or two June 90s for a longer term hold.

Trades Taken: 3 x NQ

P/L: +$10

That’s right, I’m positive on the day and trading the NQs at that! A victory is a victory.

We’re off to Yappy Hour (happy hour for dogs… don’t ask). See you tomorrow!