What a great day we had yesterday!
For those of you lucky enough to read our morning post (and you can have yours delivered pre-market, daily by subscribing HERE), we had re-picked a short position on S&P Futures (/ES)at 2,105 and, as you can see from Dave Fry’s chart, we got a lovely drop down to 2,092, which was good for a gain of $650 per contract in the first 90 minutes of trading.
We also caught the incredibly obvious oil moves where our $61.50 entry gave us a ride all the way to $60 (up $1,500 per contract) by the day’s end, though most of us were in and out during the day, profiting from the bounces as well as the drops. Like our Member, Craigsa620, who said:
Phil- I want to let you know that you really helped me make some money this morning when I probably would have lost on my own. I was stuck in doctors waiting rooms most of the morning starting at 8AM. By following the game plan you laid out and using my smartphone, I went short on oil whenever we got to 61.50 and long at 61 waiting for the spikes ahead of inventory. When 10:30 rolled around I was out after selling longs at 61.60 a few minutes earlier. I went short at 61.75-61.80 and voila, rode it down to 60.60 or so. Thank you.
All in all, it’s the same general thing we did last Wednesday and we can do this on a regular basis because the oil market is MANIPULATED on a regular basis. Maybe the regulators can’t see the blatant pattern of manipulation going on at the NYMEX but we sure can – so we may as well bet on it while it’s going on.
Perhaps the reason no one is willing to call shenanigans on the NYMEX traders is because the biggest market manipulators of them all are our own Central Banks. In the last 3 weeks, the Dollar’s value has declined by 4.2%, which is helping to prop up the markets while the smart-money flees for the exits.
