been looking for a break to the upside with such light volume today, it looks possible.
5% - 10% profit per day trading
- Thread starter spanish89
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Quote from spanish89:
i sold daily dow at 8906, stoploss 8980, target 8780.
i see down going down to 8637 over next few days, and today id love some bad news to trigger a sell off down 150points to my 8780 level.
Bad luck Spanish
... better luck next timeOil dropped 5% from 67 to 63
NEW YORK (MarketWatch) -- A perfect storm made up
1) of bad economic data,
2) a sell-off in Shanghai and
3) hearings on curbing speculation in energy trading
sent most commodities sharply lower and also pressured stocks on Wall Street Wednesday.
The Reuters/Jefferies CRB Index /quotes/comstock/11j!i1:cr\y (CRB 243.96, -6.25, -2.50%) , a benchmark that gauges the prices of major commodities, fell 2.4% to 244.13 points.
Overnight, stocks in Shanghai tumbled 5% on some disappointing Chinese corporate profits and fears of possible central-bank moves to tighten lending. See full story.
'Traders are starting to realize that there's going to be a new cop in town.'
Fadel Gheit, Oppenheimer & Co.
"The big sell-off there put us in a bearish mood," said Phil Flynn, senior energy-market analyst at Alaron Trading. "We've been living on China time in the oil market and were still celebrating their economic rebound."
Hearings
------------------
The sell-off also took place as the Commodity Futures Trading Commission held the second of three hearings to examine whether speculation has unduly influenced the energy markets. Wednesday's hearings featured giant brokerage Goldman Sachs Group /quotes/comstock/13*!gs/quotes/nls/gs (GS 158.54, -2.00, -1.25%) , which presented its case against regulating energy pits. See full story.
Some traders, such Flynn at Alaron, believed the sell-off to be purely coincidental with the hearings. But for others, the perspective of new regulations in commodities has spooked the market.
"Traders are starting to realize that there's going to be a new cop in town," said Fadel Gheit, energy analyst at Oppenheimer & Co.
"Anybody that knows anything about the business knows that these markets are manipulated by traders," he added. "There has to be an honest cop in there. I think there's some correction in the cards, and commodities prices will have to come down.
NEW YORK (MarketWatch) -- A perfect storm made up
1) of bad economic data,
2) a sell-off in Shanghai and
3) hearings on curbing speculation in energy trading
sent most commodities sharply lower and also pressured stocks on Wall Street Wednesday.
The Reuters/Jefferies CRB Index /quotes/comstock/11j!i1:cr\y (CRB 243.96, -6.25, -2.50%) , a benchmark that gauges the prices of major commodities, fell 2.4% to 244.13 points.
Overnight, stocks in Shanghai tumbled 5% on some disappointing Chinese corporate profits and fears of possible central-bank moves to tighten lending. See full story.
'Traders are starting to realize that there's going to be a new cop in town.'
Fadel Gheit, Oppenheimer & Co.
"The big sell-off there put us in a bearish mood," said Phil Flynn, senior energy-market analyst at Alaron Trading. "We've been living on China time in the oil market and were still celebrating their economic rebound."
Hearings
------------------
The sell-off also took place as the Commodity Futures Trading Commission held the second of three hearings to examine whether speculation has unduly influenced the energy markets. Wednesday's hearings featured giant brokerage Goldman Sachs Group /quotes/comstock/13*!gs/quotes/nls/gs (GS 158.54, -2.00, -1.25%) , which presented its case against regulating energy pits. See full story.
Some traders, such Flynn at Alaron, believed the sell-off to be purely coincidental with the hearings. But for others, the perspective of new regulations in commodities has spooked the market.
"Traders are starting to realize that there's going to be a new cop in town," said Fadel Gheit, energy analyst at Oppenheimer & Co.
"Anybody that knows anything about the business knows that these markets are manipulated by traders," he added. "There has to be an honest cop in there. I think there's some correction in the cards, and commodities prices will have to come down.
Pretty interesting day, I didn't think there was any way we'd get over 65.60. But as usual oil does what I don't think it will do. Stops triggered and safe to short at 66.30/66.5? Anyone agree?
oil is moving like a headless chicken right now, i'm just scalping for ticks these days. safer too.
DX trying to hold 78.30 as I speak. If we can make it to Monday Oil will be 55 in August. Then the hurricanes come :-O. Boo el nino
Yea, the markets are acting weird these days. It seems like everything moves with ES.
today was just a confusing day in oil movement, no small part due to MMs i'm sure. caught some of the drop, but overall very frustrating. i'm going to just short here and hold, if we break 73 then i'll know we're going higher, otherwise i don't see why we're not in the 50s yet.
Hey, not looked in here for a long time.
What happened to that big mouth con man spanish?
What happened to that big mouth con man spanish?
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