Member Info for Monaco

I am glued to the April Brent Contract now. Won a couple of times but mostly down. This cannot be healthy!

Ok, thanks. So would either of you (or anyone else) care to recommend a target price for unwinding my March contract over the next 3 days or getting into the ETC for Sept? I am not a blind follower of these boards by any means but I have been surprised a few times by oil so do not want to sell too low or pay too much. thanks, Monaco

Hi, I have a position in the March contract for Brent. I went long from 5383 and am now looking at 4617 :o( The contract expires on the 12th Feb and my broker offers a roll-over to the April contract which will save me a few points on the spread (compared with closing March and then opening April myself). I am not sure that I want to rollover. I can probably improve on the saving this facility offers by just setting a highish limit for the sale and a lowish limit for the buy. There is at the moment a 180 point difference between the two months' contracts which goes against me. I still expect oil to increase in the next few months. What would be a good strategy for closing the current contract and opening another? In particular, what price targets or timing would people suggest? Is there a better way for me to get exposure to an increasing oil price? Maybe this can become a useful thread for others looking at evolving from investor->trader->derivatives/options trader. thanks, Monaco

Geezer, of course it does. Gold is not that useful while other things offer exciting opportunities in a boom. Some people try and say that its a growth area. I have read that it is used in dentistry, electronics, even grafted into eyes for cosmetic reasons (ugh). I've drunk it in shots and it is true that increasing numbers of wealthy people will buy more in India and China. However, as soon as the markets really start to recover, we will see gold dumped.

I think gold is over bought. It's a fearful play and fear is well priced in to the market these days. Think how over-blown the oil price got before it shrunk to one third of $150 within 3 months. Gold could top $1000/oz but could just as easily go sub 500, in my opinion.