VIX is low, index is high, broad market is hard to rise strong in coming days.
so ya, bet on bear is relatively safer in a way.
good luck to you! 

commodity seems broadly rebound. I see copper, silver, gold, oil....all rebound.....weak dollar cause all this? maybe world consumption rebound as well....broad world economy recovery begins this 2H16 for real?.....

i sold too early....5% less....

scary volatility.

Sometimes, I think those numbers (API and EIA) do not matter much but rather cause the kneel jerk reaction
and push prices towards the extreme side of the range if they cross over a technical line.

Right now, we're still in this mid-term range here: 44.50 to 51.50

But, since we're at the low 45 range here for crude and general market at highs, I think if the general market pulls back, crude could likely test that floor and if more bears pile in, that 44.x floor can collapse.
So, better put a tight stop here. 

Nicely done! 

Anyway, thanks for the heads up on SZO but it is difficult to see that chart.
On the other hand, DWTI despite its leverage move for inverse crude, its chart is forming a nice nice saucer-like shape and moving up on the far right side. It looks bullish and readying for another push to 90-100 level.

already testing 44.80 immediate support tonight.....looks like high chance to dive towards 43.40 in coming days....

Yeah.. of course they do but I don't think they went in buy back their oil like that just to support the market from collapsing below that number.

All they need to do is just to say the words 'cut production', and this Oil market will rally to the moon. 

Perhaps do not even need to act on it.. just say 'maybe we're thinking about cutting back xx', the bulls will jump back in as if it will definitely happen.

You know why? It is just like how in early part of this year, when OPEC and Russians were planning to talk about "freezing" production at the current level (not even cut.. just maintain only) but the talks collapsed with no agreement. Oil rallied from the lows of $26 till this level with no confirmation on what they actually did or did not do.

So far, in reality NONE of them has any production cut at all... how the heck did the market even justify the price at this level, right?  All talk only, but the bulls got very excited already.    

still fighting on defending the 45 line....

Despite oil pulling back to the 45.xxl, I'm surprise how bullish the Oil companies  stocks (inside XLE/OIH holdings) has become. They seem to be diverging away from the crude price.

Here! But patiently (but getting bored n tired) waiting for a huge reversal.

Next week new game....who knows...