I’m actually having fun with this. The next oil pump will melt faces.
My current trade is an oil (WTI) Long that I’ve started a bit earlier than I should have. For the time being, I’m grinding it out to reduce the entry price, and thus achieve profit lower. I’ve already taken hundreds of micro-corrections. There are close to $6000 in the pool and I’ve barely used $1000. If it dips more, we’re loading up. If it pumps (which I believe it will), there are still a few corrections waiting to sell under the entry price, and a whole lot of others waiting to take profit above the entry.
If the Iran ceasefire is signed (supposedly on the 19th), I expect one or both sides to break it for whatever reason. The general public is now accustomed to oil trading at around $100, so officials won’t allow it to stay in the ’70s for long. Until then, it’s a slow grind, baby.
