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November 19, 2013

Slick Trade

I decided to initiate a long position in crude oil. I like what I see regarding the cycle setup, as well as sentiment. The STS has not delivered an indication of a cycle turn, but such an indication currently requires a rise above $99/bbl. So rather than wait for this confirmation, I am relying on other indicators in order to catch what should be a sharp rally once oil finds a footing ...

 

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