Wednesday, January 20, 2010

WTI Update


click to enlarge
Current count is quite bearish. Even if todays low was the -5- th wave low rather than an irregular-b- wave, the range should pretty much contain an upside pop. Implies a 3 down to start today or tomorrow.

1 comment:

  1. There is still plenty of way out-of-the money call interest from specs:
    mar $120c .02/.03
    apr $100c trading .23
    dec $250c .07/.12 mkt yesterday

    But the best option fitting my bias is buying the Apr $70 put. Someone paid 1.14 bought 1000. (CLJ 88.50)

    Skokie Energy

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