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i think today is different. I wouldn't be fading the futures, in fact, today maybe be the worst day we have seen in quite awhile in terms of points. Market is trying to price in new news. (PNB Paribas), Interest rates are spiking between banks overnite, and fed fund rate cut went to 100% for...

what time frame what instrument

y wait to trade during the day you get better ranges in the overnites!!

It is clear that this is happening, you will sell commodities sell off with a rally in the Yen implying that a lot of the speculation is because of the carry trade. Oil can't be delivered (stored offshore) yet prices are going higher, in addition we have backwardation in pricing implying that...

i hope so, these -300 days are so, ugh, dull :)

i agree, its all traders so many fake patterns setup then busted. Been happening for awhile so used to it (ie shooting star than it gets taken out 2-3 bars later)

yes, its plenty. There would be no advantage upgrading in this scenario.

tbh, i love to turn on the financial new channels on days like this. I guess its schadenfreude. Probably because they are such dolts when the market is on the upside.

Clearly, there is even more 100% up room to go! :)

everyone knows current America is a ponzi scheme. The only surprise will be a) when people acknowledge it b) that it persisted as long as it did.

do we get banners when we "break" major dow points the other way too??

see I was wrong, you can bash me now :) I stopped for +.10

well, its a huge trade for me, I'm looking for oil to go test at least $55 or less. If the trade had gone bad, I would have lost a considerable amount of my account versus what I normally risk, so its one of those trades that doesn't come along that often. If it works out, its one of those...

moved stop to +.25 (76.75) if its gonna dump it shouldn't hold 76

yes i was late posting i sold when it broke the range on the intraday

yeah I know, but if I'm right the risk/reward is too great. Went short 76.50 (qmu7) stop 78.50.

Nihaba, How did you get a nickname of Mark from Nihaba Ashi? --- haha, just kidding you took out the part in your .sig that says its a candlestick term :)

nice :) the good news for you its on no news that we're seeing this drop so its probably more 'real' than just panic. Of course, the prognosticators will blame it on something in hindsight... but to see it move like this for "no reason" is a good sign if you've got your bear suit on!

see, the problem was there weren't enough black <pick ur day here> posts. Now we get pain. Hopefully we see some today so we know its a short term bottom :)

usdollar ralling again v yen potential reversal piercing 120