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The Chairman
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(address
is not clickable)5/04/2005
Don't Be Crude, by Victor Niederhoffer
Someone is going to say that the five most recent days in spot crude, where its high and low have been respectively above and below $50/barrel by an average of $1 each day, is random. But I say that it has within it a nice little reversal system.
| JUNE CRUDE OIL FUTURES | ||||
| OPEN | HIGH | LOW | CLOSE | |
| 4-May | 49.50 | 50.95 | 48.80 | 50.15 |
| 3-May | 50.30 | 50.60 | 49.30 | 49.50 |
| 2-May | 49.30 | 51.05 | 49.17 | 50.92 |
| 29-Apr | 51.25 | 51.60 | 49.50 | 49.72 |
| 28-Apr | 50.70 | 51.85 | 49.80 | 51.77 |