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You almost got stopped out so at least its not as bad?

I dont know when we are going to hit a top, but that's why I'm playing this with options. I'm trading technicals...technicals don't always work, but they help a lot in entries. On a fundamental basis I ve seen many shorts get hurt over the past 6 months in Oil. Here some fundamentals...

First target hit. Moving stop to 1304.

Long 3 contracts 1308.75 front running this a little early as I see bottom forming on rsi on the 60m. 30m has bottomed Stop 1297 Targets 1319, 1330, and 1338 edit: I try to get the time stamp as close as I can to the actual trade and then edit and put info in.

Ok just filled on my CL option trades. Took quite a while as the spreads in the option markets are very wide. CLZ8 was 137.90 when the trade was placed. Sold December 2008 CL (CLZ8) 170P for $4980 and purchased the December 2008 CL( CLZ8) 110C for $3760 for a net credit of $1220.

The equity markets are basically forcing the Fed to hold rates. There is no way the fed can raise rates when the markets are in the tank like this. I wish I had thought about this last week instead of just realizing it this weekend, could have been some easy money made. Once rates are...

I work for a merchant who used Google and Yahoo pay per click. We stopped using pay per click due to massive click fraud. The companies are aware however it is impossible to completely stop. The other problem is just like you get telemarkerters calls at home...lots of business search...

Here is a good article from barron's this weekend (this story is free) http://online.barrons.com/public/article/SB121400286913193263.html?mod=9_0001_b_this_weeks_magazine_home_top

Here is the Daily CL with both RSI and MACD Histogram divergence.

I'm looking to get short CL sometime next week. I still am debating how I want to play it. I also want to wait for some shakeout from this weekends oil summit. I'm looking at playing this with options and getting a net credit with a chance of major upside if oil does indeed fall. If oil...

I should just not trade during expiration week as my system performs poorly. Lesson learned. Have a good weekend all. Jag

Long 1329.75 (edit 3 contracts) Stop 1319 Holding EOD RSI bottoms on 30m and 60m

Stopped out on this trade (37 with slippage). flat for now

I still think there is a shot we move higher and crossover on the Daily. In my last post I thought it looked like 60-70%. Now with the last two days action it looks like 20-30%. We shall continue to watch from the sidelines for this strategy.

Moving stop to 1329, catastrophic for after hours.

One more stab here long 3 contracts 1340.25 (Sept) Same targets as before 1354.75 1359 Stop 1337.25 Edit: Great setup on 30m RSI

Agree, since we have been using casino games as an example, we can equate a random system to playing blackjack. If you use all the correct rules, the house still has an edge and the correct rules only help you play longer. It is only when you add card counting to the system (ie. better...

Chuck, Why stop placement at 1341? It doesn't seem like your stop was far enough outside of the noise. I am long (you got a better price then me) but you seem to be getting stopped out too much. edit: I just got stopped out on my trade as well.

Long waiting 2 contracts at 1344.75 (Sept). Stop 1337.50 Targets 1355, 1359. Not great rr but I like the support we have here. Edit: Filled

Stopped out on this trade while I was still asleep. Flat for now, looking for entry long.