CL Redux

[NasiWarrior]

traders: GC is providing some clarity today for CL... if nothing else makes sense.

 

[BCE]

Quote from riskaddict:

Covered remaining 1 at 89.55

30 ticks here 30 ticks there, could mean having to rent that beach house in grand cayman instead of owning one over a 5 year period.

You'll get it. You'll even pay cash straight up.

A little bit too early on the exit. But very good trade none the less. We're going to work at holding positions longer or, as NoDoji has mentioned, reentering after our targets are hit.

 

[BCE]

DX is up again today. They're expecting a bit of a rebound this year. Time will tell. http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump

 

[BCE]

Quote from NasiWarrior:

traders: GC is providing some clarity today for CL... if nothing else makes sense.

Here's GC Feb 11 http://www.barchart.com/chart.php?sym=GCG11&t=CANDLE&size=L&v=2&g=1&p=I:5&qb=1&style=technical

 

[EON Kid]

star you greedy bastard

 

[BCE]

Quote from EON Kid:

star you greedy bastard

 

[BCE]

Tried 88.30 but it stalled out and didn't follow that bounce. Let's see here.

Took 10 cents but missed that stalled break. Still learning this contract. Shakes his head. Does holding for 10 cents count as staying in a position. When it didn't follow that move up I thought maybe it's just weak and will sell off more on any pullback. At least it seemed that way.

Quote from riskaddict:

Sorry this has nothing to do with oil but I'm happy I'm finally able to compartmentalize individual trades with different instruments instead of saying ohh shit es is doing this so I better lighten up whatever I'm doing in coffee or oil.

 

[EON Kid]

how high will this pull back to?

 

[BCE]

Quote from EON Kid:

how high will this pull back to?

Looking for 62.50 by the end of the day...................................kidding. Haven't a clue.

 

[BCE]

Quote from BCE:

Tried 88.30 but it stalled out and didn't follow that bounce. Let's see here.

Took 10 cents but missed that stalled break. Still learning this contract. Shakes his head. Does holding for 10 cents count as staying in a position. When it didn't follow that move up I thought maybe it's just weak and will sell off more on any pullback. At least it seemed that way.

Quote from riskaddict:


Sorry this has nothing to do with oil but I'm happy I'm finally able to compartmentalize individual trades with different instruments instead of saying ohh shit es is doing this so I better lighten up whatever I'm doing in coffee or oil.

It's funny that I know this but somehow today I expected CL to trade right along with the Index funds. And it did follow them down. But when they rebounded it just sat there and then rebounded and pulled back on its own. I even tried to enter positions using TF as a guide as it frequently makes the first move of the other indicies. Good lesson today remembering and confirming what you pointed out yesterday risk. And I did some money. So that's good to learn some lessons and make money even if it's a small amount.

BBIB