2011-03-22

Just  a quick update.

Yesterday I wrote;

>> My fingers are itching to pull the trigger on Crude May 2011 currently
>> at 103.235 (2011-03-21, 11:35 pm EST) to Short it but I understand
>> the Libya situation can cause over-reaction in the market and I will not
>> be happy at all to wake up tomorrow to be in the house of pain.
>> Instead I placed the following three orders;
>> Sell 10 contracts at 105
>> Sell 10 contracts at 106.5
>> Buy 5 contracts at 103

My Buy-To-Open 5 contracts US Crude May 2011 at $103 were filled last night.

This left me Long 5 contracts.

Subsequently my If-Done-Contingent-Order to Sell-To-Close 10 contracts US Crude May 2011 at $105 were filled this afternoon.

This left me Short 5 contacts and a small profit of 5 contracts for 2 dollars.

I Cancelled my additionaal Sell Order at $106.5.

I Bought-To-Close my 5 contracts at $104.95 for an insignificant gain.

This left me flat and All Cash once again.

Based on today's news in the Middle East I am not placing any bets for now, mostly because tonight I have a business meeting followed by some time off with friends so I will not be in front of my trading screen thus prefer to have no positions at all at risk.

Say tuned tomorrow.

Jeff
(2011-03-22, 5:09 pm EST)