My swing trades are ETF's.

I believe we broke this range only temporary which is why I am interested in selling it back to the mid or low end of that range.

Sent from my LG Optimus G Pro

(China) domestic oil production rising a fairly strong 4.3 percent over the first six months of the year from the same period in 2012.
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If one assumed that China's domestic output had been steady in the first half of 2013, rather than increasing by 172,000 bpd, it would make the import picture quite different, and far more bullish.

Imports were 5.57 million bpd in the first six month, but without the increase in domestic output they may have reached 5.74 million bpd.

If this had been the case, first-half imports would have been 2.1 percent higher than for the corresponding period in 2012.

Put another way, the increase in domestic output has been the difference between the expected positive demand growth for imports and the actual decline recorded.

China's implied oil demand, which is calculated by adding refinery throughput to net imports of refined products, rose 3.4 percent to 9.82 million bpd in the first half.

This amounts to an increase of about 330,000 bpd, meaning that the rise in domestic output has accounted for more than half of the gain in oil demand.

But it also means China has been adding to stockpiles, as the domestic output plus crude imports exceeds the throughput by refineries.

I'm of the opinion that it the bull is tired, but longer term we could go ether way, so if you are going to go short now, the question in my mind is where is your stop, and would you reverse at this point?

And USO has been a pretty crappy ETF. Tell FT we need Micro-CL!

(Yes I know CL is NYMEX)

There is already QM.

Mike