Since there’s some interest in this vehicle in the chat room, I’ve included it in today’s list. I’m less than enthused myself, mainly because of the way the futures chickened out well shy of the 106.14 target shown. That means that if you are trading June Crude, the camouflage option is not nearly as attractive as it might be if there were big-picture target to shoot for. If you’re intent on scalping this weasel anyway, and if you can abide the risk of getting driven crazy intraday, you should look for opportune impulse legs on the hourly chart shown. Shortly after midnight Monday, bulls and bears were in dueling mode, the former holding a gossamer edge that would vanish at 99.26 . Under the circumstances, might I suggest that you toss a coin to determine your bias? ______ UPDATE (5:20 p.m. ET): In the chat room this morning, when I suggested bottom-fishing at 98.89, I joked that it would be best if the target were reached quickly, since that would give Goldman’s Rick’s Picks ‘mole’ less time to front-run the information. For the record, June Crude took a 72 cent bounce yesterday from 98.91 — two pennies above the price where we were looking for the turn.
