I sold short the crude oil futures (/CL) at 71.5. I thought that the contract would pull back a bit after the huge rullup today. After hours the contract rose above 73 after nigerians attack oil fields.
I'm not happy that I have a loss, but I'm glad I had a stop in place.
From bloomberg:
Crude Oil Rises to 8-Month High Above $73 a Barrel in New York
By Clyde Russell
June 30 (Bloomberg) -- Crude oil rose to an 8-month high above $73 a barrel in New York as investors bought commodities as the U.S. dollar weakened.
Oil for August delivery rose as much as $1.89, or 2.6 percent, to $73.38 a barrel in after-hours trading on the New York Mercantile Exchange. It was at $73.01 a barrel at 10:16 a.m. in Singapore.
Last Updated: June 29, 2009 22:18 EDT
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