Issued: 10/07/2014
Nov. crude oil:
1. From this point forward, any hourly or especially daily close below $89.45 Nov. crude oil will indicate new short entry for a quick decline to $88.95/$90 (or lower) into tomorrow, Wed., Oct. 8. Aggressive can short upon any significant break of $89.45 rather than waiting for the hourly or daily close.
2. Initial short position exit should be taken at/near $89.20, then further at/near $88.95/$90. Any remaining position should be held for the possibility of lower prices to be messaged in a subsequent update.
3. Once short, a protective buy stop should be placed at $90.00. This stop will quickly be moved lower as the market continues to confirm.
David Williams
Issued: 10/07/2014
Nov. crude oil:
1. Today’s (Tues., Oct. 7) Nov. crude oil update indicated new short entry upon any hourly or especially daily close below $89.45. The market was expected to decline to $88.95/$90 (or lower). Aggressive were instructed to enter upon any significant break of $89.45 rather than wait for an hourly or daily close.
2. Today’s Nov. crude oil closed hourly below $89.45 and completed the $88.95/$90 downside target (and lower). This completes the trade. Today’s session low has been $88.69, so far).
3. Aggressive can continue to hold any remaining short position for the possibility of lower prices. Will update as market confirms.
David Williams