The Big Boys, page-513

Vindin not only am I following Caltex but I entered a nice big fat short position at the start of the week at $35.91. It's come off surprisingly hard though. Although I should know, I had assumed it must have been the dividend that dropped it two days ago. Thanks for pointing that out. I just checked and you're correct. 9th March $0.70 further to come out of it.

Just get out of the way for the moment. That's a double top confirmed now and falling sharply. My target was $28, which looks an absolute certainty atm, but Im now wondering if it might get to $24. I'll refine this a bit further in due course.

Price seems to be reversing on oil rise on basis that its mainly a retailer and margins will get squeezed. As it went up high on falling oil, the reverse is now playing out. Even when my short term targets are hit it will probably bounce a bit. But it will need a lot of work and time before it becomes a long trade again. Be very careful with that side of the trade for CTX.

Note also that I have on my to do list updated charts of bhp and mnd. Maybe over the weekend.