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Futures Movers March 23, 2011, 10:19 a.m. EDT Crude futures top $105 a barrel Traders monitor the ongoing conflict in oil-rich Libya By V. Phani Kumar and Simon Kennedy, MarketWatch SAN FRANCISCO (MarketWatch) — Crude-oil futures surpassed $105 a barrel Wednesday, extending the...

It will be interesting to see how much the inventories report affects this.

Almost looks like a SNL bit, but who's laughing? Crazy.

March 23, 2011, 10:00 a.m. EDT February new-home sales dive 16.9% to record low WASHINGTON (MarketWatch) -- Sales of new single-family homes slumped 16.9% to a record-low seasonally-adjusted annual rate of 250,000, the Commerce Department estimated Wednesday. The figure was far below the...

Up and down this morning. Like a errant elevator. The crude oil inventories were up 1.7 mil barrels last week. See what we get for this week in 30 min. New home sales in 1 min.

Good Morning Hope everyone's doing well. Surprisingly strong today even with the inventories report coming out which may indicate and increase in inventories. In 45 min. ADD May be the Israel bus explosion. And just saw Elizabeth Taylor has died.

Yeah that's it. Really well put I thought. Summed it all up. "Of course higher crude may carry the seeds of its own destruction. " We'll see what happens here. I think the OPEC guy with his $120 is no problem comment is dreaming. But market wasn't fazed that much today with $105.

I mentioned this a couple of weeks ago. I hope that if it does go back up to $120 or higher that the government doesn't get involved in trying to restrict our trading by blaming the increase on us "speculators". ADD There are risk premiums built into lots of markets. I think the markets take...

Thanks for looking that up. I was trying to remember EON Kid's comment along the lines that the higher it goes the more it kills its own momentum. How was it you put that, Kid?

We'll see what the inventories numbers are tomorrow morning. That may have a dampening effect if they're way up, which they could be.

Good chart. Wonder what ours looks like.

I think those comments from the OPEC guy you posted earlier about $120 being no problem may have driven this. Plus the conflicts in the Mid East won't be resolved anytime soon it would seem.

I know about being distracted and all of that. Sometimes you just have other work that can't wait. And at those times I just take a peak and see if I can find a few crumbs here and there which I did today. PP = Pivot Point. DOM = Depth of Market which is displayed in the trading module.

Good trades on that. Correction: I did a 104.33 short but accidentally closed it at 104.29. Oh, well. :)

One would think it will top out shortly.

We haven't had this kind of b/o in a while that wasn't based on any breaking news. Or was there some?

But you did. I'm the one that didn't take it. I was chatting it up with you here. :) Plus I'm doing some other work I need to finish which is a distraction. I was considering shorting at the PP at 103.23. Glad I changed my mind. Do I at least get a cut for posting those bullish articles? Ha. :)

Quite a long red 30 min candlestick for ES. It didn't like the spike in oil.

It seems that even if they offed Gaddafi his sons would just step in.

Sorry about your losses. Been there. It's hard. We're all learning what works and what maybe doesn't in any given market. We win some and lose some and hopefully learn in the process and do better next time. Onward and upward.