may have missed the boat on this short, though i get the feeling we'll test 60.00 again before the end of the week.
5% - 10% profit per day trading
- Thread starter spanish89
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you mean on DOM you see 1100 lots buy order from big traders ?
or is it your trade for your accounts with 1000+ lots ?
currently I am flat on crude.
seems hard to predict the direction at this 5880 level
bull case:
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1) since big traders wanted to pull it to show $60 for technical reasons. Main technical reason is to attract funds to buy oil for next couple of weeks.
2) if above is the objective , same day with $60 then pulling back to $57 does not serve the hard work of big traders who pulled it to $60 . With this therory we can assume today close can around $59 +
bear case:
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3) S&P is drooped 25 points from peak of 920 now at 895 , oil better at $57 than $59
4) wait for tomorrow EIA report for any bull case and equtyity market pickup
seems hard to predict the direction at this 5880 level
bull case:
-----------
1) since big traders wanted to pull it to show $60 for technical reasons. Main technical reason is to attract funds to buy oil for next couple of weeks.
2) if above is the objective , same day with $60 then pulling back to $57 does not serve the hard work of big traders who pulled it to $60 . With this therory we can assume today close can around $59 +
bear case:
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3) S&P is drooped 25 points from peak of 920 now at 895 , oil better at $57 than $59
4) wait for tomorrow EIA report for any bull case and equtyity market pickup
after above bull/bear case analysis took long at 5855 and closed at 5900
- gave up little profits on upside as it slided , bulls last 1/2 hour action is weak
- gave up little profits on upside as it slided , bulls last 1/2 hour action is weak
made a little bit shorting the early session, then a couple small short trades at the end. i wish i had been at my computer when we hit 60.00, i would have shorted and would've tried to hold it for a few days.
crude has electronic session also ( pit session data may be fed into electronic plaform , I am not sure).
I can see DOM with 'CQG trader ' client , broker MF Global
using Ninja trader you can see oil DOM with any broker, please check Ninja trader website
equity markets did not help Oil bulls to pull it to 5930 level .
S&P was only at 902 level at 14:40 EST , now it is 907 , If it had been 907 at 14:30 EST bulls might have pulled it to 4930 level
1)end of day volume spike on weekdays has more to do with position squaring and less to do with bull/bears competition
2)DOM/marketprofile on crude only accounts for electronic session. Pit session DOM isnt available for any market AFAIK
3)I was infact talking about other traders lots at 5810. If i had that much capital i wouldnt be wasting my time here
4)Overall it was a very very easy day to earn money. First of all the ride from 5800 to 6000. Then a definite short from 6000 for atleast 1 dollar. Then anyone with eyes on marketprofile could have picked up 1000 lots on 5810 and entered long with a tight stop of just 1 cent below 5810. I wish we can have more of such days
2)DOM/marketprofile on crude only accounts for electronic session. Pit session DOM isnt available for any market AFAIK
3)I was infact talking about other traders lots at 5810. If i had that much capital i wouldnt be wasting my time here
4)Overall it was a very very easy day to earn money. First of all the ride from 5800 to 6000. Then a definite short from 6000 for atleast 1 dollar. Then anyone with eyes on marketprofile could have picked up 1000 lots on 5810 and entered long with a tight stop of just 1 cent below 5810. I wish we can have more of such days
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