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OMG, I hadn't looked at OPEN for a while now. P/E of 157, I take it they have a cure for cancer forthcoming. Wait, wait, wait!!! This just in: http://money.msn.com/top-stocks/post.aspx?post=1b644acc-208d-4aa8-8831-0e0097bd8ca9 That's it, folks, we've truly reached the top, short at will...

http://apnews.excite.com/article/20110211/D9LAODEG0.html

I posted a while ago on another thread about this: http://www.elitetrader.com/vb/showthread.php?s=&threadid=215097&perpage=10&pagenumber=2 I, too, prefer the deep restful sleep of a day trader and will trade in any direction that price signals. Trading CL today I went from 6 shorts to 5 longs...

But that's not what's happening right now. Money is flowing from employee/employer contributions and the institutional investors are buying up every small dip in the equities market. We're traders here, so we go with the flow. The easy money is in the direction of the trend because programmed...

You pretty much nailed it. People are contributing to their retirement accounts and that money has to go somewhere. My friend just called for advice on which mutual fund to put his contribution (and employer matching contribution) into; he has to choose a fund, can't just leave it in cash or...

You definitely have to think fast, always a step ahead, so you're prepared to act, because CL just moves so fast once a level is triggered. The easiest thing to do is just have stop orders placed in advance. When I'm looking to enter at a break of a S/R level I just do it that way and then...

Now wait a minute, I also had an order to go long @ 86.86 off that little triangle, it just so happened the short trade got triggered first :p

This was a basic counter-trend play for me using the 1-min chart. I'd closed out my 5th long and saw a small triangle forming on the 1-min. I figured it was a 4th push up off the LOD and had pulled a good distance from the 20-EMA, far enough to maybe, maybe get a 20-tick retracement to the 20...

Yes it was :D Note to Frank: This is why you use hard stops and soft targets!

And I thought my counter-trend short would be a long tedious affair to get 20 ticks :eek:

After seeing TKLC hitting the low ticker with a vengeance yesterday afternoon, I decided to take a peek at the news. I notice that the news on 2/9 (the day before earnings) we have the following news: S&P RAISES OPINION ON SHARES OF TEKELEC TO BUY FROM HOLD We reduce our '10 EPS...

Mr. Weinstein, I'm very disappointed in you, shorting that nice organic produce after all the time I spent getting you to eat your salads! :p On a serious note, good to see you rockin' it; this is but a pit stop in your awesome run. I'm sorry I haven't visited chat lately, but I've become...

That was a sweet little setup on the 1-min, wasn't it? I, too, waited for the "second mouse" entry, which was a no-brainer long entry to me after that 3rd touch of .77 held up, and I was long @ .85. As for your hard target, I say "Hard stops, soft targets". First thing in the morning I note...

'Tis but a scratch after those nice trades earlier :) I'm outta here folks, knock 'em out of the park into the close!

shorted .80 for the break of .73 and stopped right out b/e on the rebound. Shoulda just held the original short, but I had to go talk to someone and instead of placing a stop above a bar level, I just exited.

Out @ 87.06

Please come over to the dark side! EDIT: David, I was envisioning us with light sabers during that 20 EMA struggle :p

Out .27 EDIT: I think that was the first time I entered with a limit order anticipating a level. EDIT MORE: I like entering with stops better :p Flipped short @ .26

Long .29 off the 20-bar EMA

That was a pretty weak b/o of the high, but as they say, anything can happen (especially with CL) :eek: