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Looking good Ebo-- double top and a close under 111 18/32 should bring in a lot of selling from longer term traders when the market reopens, methinks. Once again a volatile day-- down, up, and all the way down again-- a great market to trade but also odd behavior for this market.

I am watching 111 13/32 and also around yesterday's low as potential places to go long.

Ebo, i'm not that sadistic. I said "still short" because there was a down move yesterday which allowed perhaps for some profit taking plus the action this morning which didn't bode too well for the short side after 8:00am CST. So I was hopin' you made some money.

Ebo, are you still short? If so, when do you stop scaling and start bailing?

A hinge (LrH/HrL on evaporating volume). Gotta work out some trading tactics for these too so I'm just watching. What I do know is whichever way it runs out, then 135 marks a potential s/r zone. Since it also corresponds to yesterday's hi R zone, it may become an excellent place to trade off...

My statistical work which is actually pretty simple. I'm shorting a failure at yesterdays high. So if you look back in recent months at all the times that trade worked out, you can see by how many ticks it violated the high and still worked out. If you histogram those ticks then you know what...

Nah. Cancelled my order up there. I'm still working on rangebound tactics. Since the highs and lows were rejected pretty strongly I don't want to use my trend trading on purpose.

Well since that downspike was bought up earlier today as well I played it safe and took profits. I have another sell order at the top of the current range though.

boy am I lucky today. That came 1 tick from my stop at 185. I think a lower high now seals the deal for the shorts for today. There were three smackdowns from around 111 16/32.

Just had some pretty good R around yesterday's high so I'm looking for a short entry now. I will dump it if the market spends any time above 16.

boink. So much for the multiday holding. Till tommorow...

I'm trailing the 60m bars with a long right now and we are nearing the top of the channel. If tommorow we get a LrH near the top of the zone I might short it, otherwise i'll let this thing break out if it really wants to.

I agree with you then. I just counted six days since 15 Apr where the 110 220-260 support zone turned the price around. On the flip side there have only been 3 tries beaten back at the highs. Path of least resistance is up!

today???

boink. oh well. I'm pretty happy with everything I did. Chances for a new low are really small at this point.

I'm happy with my stop at 15 and the potential for a new low. So I won't do anything unless we make a new low, at which time I will move the stop on the whole position to 110 31/32.

You are joking right??

It's a mini-hinge... which can lead to a decent move either way. I'm just gonna sit tight. At least for the next 60 seconds.:D

Looking ok so far. I would like the next low to be lower than 30. If not, I will take one off.

added to my short at 111 stop for the whole shebang is at 15