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Now I'll take the other side of my own post. Looking at the chart, July Oil might try to test that $126 level. Especially with the dollar hitting resistance.And I see stronger support at the $118 level than at the $120 level. No predictions here, but I will be watching closely.

One out of the two aint bad. CPST at time of prediction closed at $1.19....... CPST now at $3.77 Too bad I sold it a long time ago and left a lot on the table. :mad: BWTR made me some money but didn't exactly double. Stopped out a long, long time ago.

With SOOOOO many peolple watching the $120 mark for support I can only imagine how many sell stops are sitting just below $120, actual as well as mental stops. A close below $120 can excellerate oil into a freefall. If so, a touch of $100 in the near future is not unlikely. imo

If you were long 1000 shares of GE on April 10th you would not have felt safe on April 11th. Point is, never think that any stock is safe, there is always risk to be managed.

BNB = Buy-N-Bust

You would only pay 15% on 60% of any profits regardless of how long you hold it. The 60/40 rule applies to all futures and index options. If you trade index options, or other non-equity options such as on bonds, commodities or currencies, the results of a sale are treated differently...

I've been trading the short side of gold and silver since March and I agree that it's been no straight line down. :)

Thanks. Is there a symbol for the cash/spot price that will bring up a chart in Tradestation?

http://www.cbot.com/cbot/pub/page/0,3181,1082+YG+all+2008,00.html

I would think an Obama win over Hillary has already been figured into the market.

When determining support and resistance on a Comex Gold daily or weekly chart, is the professional trader looking at the specific month's contract or the continuous contract? I have looked simultaneously at GCM08, GCQ08, @GC & @GC.P with support/resistance drawn in relatively the same place...

interesting analysis.... http://www.blonnet.com/2008/06/02/stories/2008060250670700.htm

Options on indexes (not ETFs) fall under the 60/40 rule at tax time. That in itself is a big difference, in your favor. The following was cut from a website, so use it as a guide only and ask your accountant............. Broad-Based Index Options If you trade index options, or other...

http://www.google.com/language_tools?hl=en

Suri, GOOG is a perfect example of a gap island reversal. I was even going to post it earlier in this thread to show how DELL might trade in the near future. Thanks for posting it. My OP is just a short term trade to a target of $25 using options. But for anyone looking for a long term trade...

I agree. Even the mini, with a current ATR of .61 cents, only needs a .75 cent move to take your $750 stop out.

I can't believe all of you responded to this obvious troll. gul·li·ble guhl-uh-buhl –adjective easily deceived or cheated. Also, gul·la·ble.

Doubt it. Gulf hurricanes might push the refiners SUN,COP,XOM etc.... but not CL.

http://www.shortsqueeze.com/?symbol=sigm&submit=Short+Quote%99

Go away again moron. Come back when you have something useful to add to ET. Obviously you have no clue how support and resistance works. They are looking for you over at Elite Buy and Holder dot com