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It never fails to amaze me how technically clean CL trades off levels on the 3- and 5-min chart. Today my trade was a counter-trend trade after a 3rd push up from the gap. I shorted @ 86.12 and had my stop at 86.18 (didn't want those 10 ticks slippage if it broke out again). I was looking to...

FYI, there are subscription services that charge $1500/mo or more to get you breaking news. Traders using these services get in on the move very early, long before the first 5-min bar is 1/5 through. Unless you can get in very early, you are playing with fire, because when it's rumors (not...

Uh oh! emg is averaging down to the short side. I think I'm going long now :D Seriously, I thought about going long @ 1205.00 (breakout) and couldn't pull the trigger.

This run up is interesting. Is it programmed buying systems, or do large investors feel they'll never see these bargain prices on stocks again?

Aw, man, tell me it ain't so? I just figured he bought 600 lots CL before the inventories and I was looking forward to reaching that level by the end of the year :p

+$889 Had a nice early morning and calling it a day before I do something stupid :D

Yeah I made that mistake, too, all happy with my first trade, took a break and missed another nice CT scalp. In retrospect (where all trades are perfect) going long off the post-news gap and taking a verrrry long break was the way to go. I had a nice stock trade off the open and I'm...

Looks like we all did about the same trade. I was sh @ 86.12, covered 85.90

This price action is inviting me to neither the dining room nor the bedroom :p

I don't think I've ever seen it gap like that intraday.

Long 50 cars @ 1199.00, target 1202.00. :D :D :D

ESI and DV might turn out to be pretty good fades over the next couple days.

This is a great rule for traders, but not so much for long term investors. A stock that keeps rising even though fundamentally it's wearing the Emperor's New Clothes, will eventually be brought down to earth. Some examples are HOTT (5/7/09, after rising nearly 200% over 6 months to a...

Hi Cal, I think you have the right idea and a great selection. Best of trading to you! NoD

I've posted a similar cautionary tale a while back, attached.

You must be trading the June contract. I wasn't around during the time you were trading, but the action looks volatile and uncertain, breakout to the upside, big selloff to the range low, bounce almost right back again. Tricky trading at best. I think stops would have to be above the HOD and...

I'm using a 5-min chart and cross-referencing a 3-min chart to help me with early entry once the 5-min alerts me to a setup. And yes I targeted the 20-bar MA since it was counter-trend, but there was just a small pause after I was out of the trade and it continued right up to the next Res...

You seem to have an uncanny gift for picking key reversal zones. Why are you playing for one point instead of letting your long positions move to where you are next looking to short, and vice versa? You were long one tick from the LOD and it's now 10 pts from there, price never even peeked over...

I had a tighter stop @ 82.57 and here's why: Price had put in a low of the day, bounced in an attempt by bottom fishers to establish a trend reversal, and that failed, leaving another lower high beneath the falling 20-bar MA. Price moved to test the low, and left a slightly higher low, then...

Your pricing is off. Also, your term "limit order" I think is off. If price is @ XX.25 and you enter a limit sell order @ XX.15, it's filled immediately. Do you mean a sell stop order? If you keep getting stopped out as you say, then you are most likely fighting the trend (as happened to me...