Another WINNING Day in Crude Oil – STAB #1 Hit – Obama Rant!

Hello Traders,

Another win in the Crude Oil Market today!

If I may get off on a tangent for just a bit today, I find President Obama trying to meddle into things he doesn’t belong to be meddling with troublesome.

Should the government be the decider of the Crude Oil Free Market Price Discovery?

Why does Obama think a form of Socialism is the correct way to go?  America … what a powerful word!  Just to say it means freedom to many people … what does America mean to you?

Obama 3 Fingers Points to YOU!

Obama 3 FINGERS Point Back to YOU!

So why are prices at the pump so high?  One word … greed!  If the President wants to point a finger, then he should realize that most of them are pointing back at him!

The President’s policies have failed to bring us any closer to losing our oil dependency.  When we sit on the world’s largest reserve in the world.  Estimates make oil in the USA more than any left in the Middle East.

For what it is worth, why do we pay more at pump has a lot more to do with the Oil Companies, than it does with the speculators.  If he really wants to point the finger, then you need only look into the Electronic Traded Funds and the Derivative trading in Oil from the big oil companies like Exxon.

But is this a true statement or not?  I believe there is a lot going on with smoke and mirrors.  The alternative policies are not working.  The way to come off of a dependency is to be weened off of it not to go cold turkey, when the world is driven on oil literally and physically.

Drill Baby Drill

Drill Baby Drill!!!

Obviously, the future involves coming up with a solution to our energy dependency by other alternative measures, but to cut off oil production in America when we need it the most is not a wise decision.

Our strength as Americans is in our innovation.  We should be working on a solution, while still staying strong from the inside out.

Three words for you President Obama:  Drill, Baby, DRILL!!!

Alright enough said …

Funny Road Sign

Funny Road Sign

In trading today, I was able to take away 40 ticks net overall on trading.  My first two trades I was down 46 ticks, and my final trade on the day went for a gain of 86 ticks.

This netted 40 ticks on 3 trades or $382.00 after commissions.

On the 200 trades chart, you will notice the trading bracket I used in my trading today.

April 18th, 2012:  200 Trades Chart

The 2000 Trades Chart, you can see us breaking support and moving into the Prior Day Low (PDL) and the Lower Average Daily Range (LADR).

April 18th, 2012:  2000 Trades Chart

Once again, I was able to hit STAB #1 on my trading today.  Since I have struggled most of the month of April in my trading, I am taking some money off the table and banking it.

I will be wiring out $625.00 out of my trading account.  By the way, I do not like to trade the Thursday and Friday of the 3rd week of the month.

Why?  This week futures and options in Crude Oil expire, and we are shifting from May to June as the lead futures contract.  Crude Oil has 12 months of futures and options during each year. 

April 18th, 2012:  Trading Statement

 

Good Trading,

David ‘Tiger’ Knight

P.S.  Today’s Crude Oil Trading Video

 

 

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.