tremendous post...yes, amazing profits available trading the CL...its brother of 'potential' is the DAXQuote from Cheese:
What a gigantic shitload of points were made available by the CL market today.
The range (Tuesday June 10 2008) was 650; as already commented here by me before, from time to time in the last 18 months there are big ranges out at 4 to 6 bucks for the day. Those that had turned around from the 'bear' tack on to the 'bull' tack or said that CL was going next to $150, would have been instead, over the past 2 days, getting their peckers chewed up in the mincer - this time the 'bear' mincer.
As always, the best play is intraday, open to close. Just play those gyrations. So looking at the pattern for today (June 10), the session's gyrations (up/down repeating) produced 20 macro 'legs' of minimum 45 points (ie cents). The mean average of those 20 'legs' was 129 points per 'leg'. Therefore between 10am and 2.30pm, thats more than 2500 points which were on offer.
20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008
- Thread starter increasenow
- Start date
great post...the chart experts can chime in...in my opinion the daily chart looks 'tired' and we are heading south...CL could close in the $120's by this coming Fridays end...Quote from jas587:
I don't post here much but was wondering if anyone noticed a technical chart pattern-"bull flag pennant" supposedly a trend continuation? Any comments or observations? According to technical analysis this is a very reliable trend continuation pattern?
http://news.yahoo.com/s/ap/20080614/ap_on_bi_ge/saudi_oil_5;_ylt=AiI7lBFT9KfzTowHh_Q0hP6AsnsA
if this above really happens...should send Oil prices lower...
if this above really happens...should send Oil prices lower...
some very good points...we have not had a hurricane yet...good point...I guess a key factor is where will Oil price be at when first major hurricane hits...I.E. $140, $130, $120, $110, $100, $90 etc....in order to determin how high it could spike from a major hurricane...great post daddyeaux...
WOW!...read this heading into this week...serious stuff...read...
http://www.reuters.com/article/hotStocksNews/idUSN1342789920080614
http://www.reuters.com/article/hotStocksNews/idUSN1342789920080614
Looking at this from a purely psychological viewpoint - it looks pretty messed up. You are feeding yourself these self-boosting argumentation snippets and just can't be objective. I wonder how it will go in the end, but one thing is certain sticking to your guns in such a manner is "do or die" ... Why would you take such a risk? Isn't preservation the smartest strategy?