01/05/2015 – Crude Oil
February crude oil:
1. Since mid Dec. 2014 (with prices at approximately $56.00) our February crude oil outlook has been that crude oil should not be bought because an additional decline and test/attempt at $48.00 remained very likely.
2. Today, Tuesday, January 6, 2015 crude oil made a session low of $48.47, completing the $48.00 downside target. This is an important downside completion and how the market handles this level remains important. No new action is being taken at this point. Will update.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.