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We now have an uptrend and until something proves otherwise, think continuation. The uptrend should continue unless something changes crowd sentiment. You have happy longs who've enjoyed a very nice ride up from the earlier double bottom. Some will take profits because of the power of the move...

"So what's really going on in the markets? Cramer attributed today's market surge to the end of the month tradition of hedge-fund managers marking up their favorite stocks, in efforts to save an otherwise difficult month."

OK, if you went long AFTER those 3 bars, you are putting on a risky trade. You're fighting the short term trend, which is now down because of the lower high after the new high was put in just after 9:30 a.m. You would be placing your stop below the pivot low and if another lower high is put...

That explains it. We both learned to trade by hitting the bars, one bar after another. Actually, I have done this, and continue to do this, every single day.

You ain't kiddin'! I read more than the recommended daily allowance of 3 pages one night and my head exploded: http://bodyodd.msnbc.msn.com/archive/2010/02/17/2204845.aspx (spd, that chart analysis is too funny! Did we go to trading school together??)

QuoteTracker's free and desktop-based.

Sent you a PM so as not to drip too much oil on Robert's journal :D

IncNow, I attached your chart with my annotations. Learn to use the power of lower highs (LH) and higher lows (HL), double bottoms and double tops, in your trading. It's low risk:high reward "with-trend" and "confirmed counter-trend" trading. Instead of trading based on your opinion of what you...

You shorted near a support level in what appears to be a range (can't see what's west of your leftmost bar). Think about what potential buyers and sellers and holders of long and short positions are thinking. Longs are thinking, "If support doesn't hold up, I'm outta here." Shorts are...

Hermit's advice is priceless. Trade CL, it's slicker than snot :D

Took some time off from live trades for a couple days to do many things including refining my trend-following strategy with CL in sim. Just how friendly is the trend? Net $13,167.50 trading 5 simcars. I've done well counter-trend trading CL, but never as well as this. End of month so here's...

I agree with you here. It took me most of my first two years of trading experience to finally grasp this concept of trend following. I've been sim trading CL (oil) for quite a while and had worked up a couple counter-trend strategies that worked well. Thing is I was scalping small moves for the...

Interesting Jess said he had no fear of NUVA halting while in the trade because of the news alraedy on the table. They just halted.

I think I'll be able to take a simulated retirement based on the simulated profits I made buying every CL dip today in my simulated account :D

People who see it threatening to test recent highs are buying it to profit from the move to test recent highs. People who plan to sell are waiting to see what happens at a test of recent highs. So you're either buying or waiting to sell, which leaves the action in the hands of those pesky buyers...

owusu, where do you place a stop on this trade?

We were only trading 100 shares in sim and no fills on the opening 20 minutes. Try 20 shares in sim and see if it makes a difference.

Thanks! We ran our ATS this morning in sim and all trades in the first 20 minutes never filled. Ironically, ALL would've have been profitable! We've decided to go back to 20 shares in the live account for testing. We did that a couple weeks ago and the orders were all executed properly. Each...

Looking at the chart, it appears to have found a support group today. I can't believe it could drop so much with a 40% short interest (now 55%). Those dastardly short-sellers, driving perfectly good stocks into the ground! :p

Holy cow, HB, I think you've discovered The Grrrrail!