David Fuller's view Having purchased crude oil (NYME) (weekly & daily) last Thursday because it was too cheap relative to the Brent contract (weekly & daily) I took the profit on Friday, thinking that it might bounce around a bit more, allowing me to repurchase on a pullback. That exit was premature because crude oil closed higher last week, on a key day reversal and extended those gains today, presumably with the help of short covering according to this article from Bloomberg. For the record, I bought March crude oil at $87.120 and $86.115 on Thursday 27th January and sold it at $88.145 and $88.270 on the 28th, including spread-bet dealing costs.


Moments later on Friday I reopened longs in wheat (weekly & daily) and rough rice (weekly & daily). I paid $8.339 for March wheat and $14.9075 for March rough rice, including spread-bet dealing costs.