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I'm very happy you ended up making a nice profit. Just think how much you would have made though had you cut your losses short originally and then maybe rode this down to 85.50. And then if you had flipped it around that level and rode the whole thing up and/or maybe taken a small position at...

I was thinking that exact same thing too as I see everyone here seems to be trying shorts. The big moves for the day were obviously long, at least so far. As you say, it's so much easier. The trend is our friend. But, as I've mentioned before, for some reason traders have a contrarian head...

Just checking in briefly. Glad you caught a break. There is quite a bit of resistance going on up to just over 93, but fundamentals have obviously driven this up.

Must be lunch time. :) It's 8:19 AM here. BTW missed the break while dealing with my software. Ongoing. It's okay. BBIB Have some other business to take care of. Make some good money.

Stay tuned. I'll let you all know when I short the top of this channel to alert everyone to the breakout. :)

Just observing right now too. Looking to see if I see anything. There were some more obvious opportunities earlier but I wasn't here. Still getting my software issues worked out. Hope everyone had a nice weekend and is enjoying their day.

Call it a night. See you in the morning. Have a good night.

Having data feed issues again. Sheeesh! Can't believe it. Certainly not from the servers being overloaded.

Have no idea where this is headed. We'll see shortly. I'll give you a heads up if I go long or short so you can do a counter trade and make some $$$. :)

Here's an article from the Los Angeles Times emphasizing the significance of what's going on in Egypt. http://www.latimes.com/news/nationworld/world/la-fgw-egypt-israel-20110130,0,2398514.story Israel Watches Egypt Uprising with Fear 6:38 AM PST, January 29, 2011 JERUSALEM Israel...

InvestVision, Thanks for all the info you gather and share. Much appreciated. Good to know what's up fundamentally too as well as from a technical perspective. Nice that we can all work together and contribute in our own individual ways towards making this thread what it is and helping one...

One more thing in this lesson of "don't do what I did" is I had somehow failed to place a stop during this trade. Shame on me and look how much it cost me. I was tired that morning and just kind of waking up and shouldn't have even been trading. Just sloppy trading.

I'm not a Middle East politics expert so can't say what effect the unrest in Egypt will have on oil supplies. And IV has posted some info on the Suez Canal operations here. I personally think that today's general market selloff was obviously related to what's happening in Egypt and not driven by...

I liked the idea of trading QM instead maybe that Picaso mentioned. A little safer. Of course the reward is reduced too when you're right. And as you say if it's too volatile I just let it go. I generally don't trade when there's an economic report coming out. Not too long ago I lost $2856...

I think this all depends on how the Mid East situation unfolds. But generally you're right that when there is such a huge move in a condensed amount of time there is a reversal. This is what I've seen anyway. Stay tuned.

You're welcome. I have a few more to post as I have time. :)

That's interesting about the "widen your stop and reduce size". I was thinking this same thing too while I was away. Didn't think of the QM option. Good point. And good points about the possible crisis resolution..............or not. :)

I was thinking about your post while I was away. The "hold for Monday close" thing seemed very risky over the weekend.

Lot of resistance right here. But not seeing any big pullback either.

:D That probably works today. And then click twice and you're out. :) You have to feel it while your eyes are closed. And click when you get the urge. :p Or is this buy the pullback before the new high run?