Wow. Often the first reaction on Fed day is the wrong reaction. Sure enough on today's crack distribution we rallied 200 pts then turned around and gave it all back (and then some). These markets are nuts. The volatility is insane.
I'm net short again (after getting whipsawed). My line in the sand is 12,500. We'll see what we get now. I feel much better about shorting this market with the crack dealer out of the picture. If we can't go higher from here it is about to get ugly. Potentially really ugly...but I'm not getting ahead of myself this time.
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