Thur Sep 22
I continue to like energy (crude in particular). I was going to buy CL futures yesterday after the EIA report but never did. These weekly reports have been flat-out wrong (IMHO) and will be corrected when the monthly data is released. I still have a slug of USO 70 puts that expire tomorrow. USO is pre-market at 70.58 so they are looking good. The gov’t is claiming that they will look to repurchase oil for the national reserve below 80 which will help put a floor there. Outside of a worldwide depression, these current crude levels look attractive for put selling and long swing plays.
Good trading!
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