CL Redux

Quote from FortuneTeller:

I agree CL has been a little harder to trade lately but there has been some good days if you are shooting for the home runs.
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Now all that exists are 0 to 1 algo-spike or slam bursts of price movement, followed by endless hours of unbroken, tight-range chop per trading day. / Catch some of that lone move and you made money. Miss for any reason, and you'll stare blankly at dead charts for the remainder.

well now it seems we agree after all... in spite of your earlier post that inferred otherwise :)

my point was that CL no longer oscillates... it chops inside 30-cent pinned ranges for hours, and explodes from price A to B within minutes.

20-cent CL scalpers are just like sasquatch sightings: lots of people swear they see them, but nobody ever provides any proof of actual existence.
 
Quote from riskaddict:

93 by next tuesday.
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opps...

Maybe the API will show a 10 mil build tonight :D

Got stopped into long yesterday morning and was briefly wiped out for for a scratch. I've been in a bear put spread and now I'm just holding puts as of this close. At 95 I'll hold slightly fewer and 93 I'll be out. At 102 they will be worthless so I might buy more there. This is so strange, like a slow motion breakout. With middle east bull shit and the dollar getting trounced I'm surprised we aren't at 110. I guess with all these pushing and pulling factors this churning makes sense.
 
RA, your going to need one Hawkish fed statement tomorrow to get oil anywhere near 93, plus hope API being far off lately continues in a bearish direction:you basically need builds across the board.

oil is a short at some point but the timing is everything
 
If you are finding this market/time frame tough to trade, the answer is simple: stop trading it!

Plenty of other markets and time frames, y'know. Nikkei moves 3%-4% in a day.
 
Quote from Visaria:

If you are finding this market/time frame tough to trade, the answer is simple: stop trading it!

Plenty of other markets and time frames, y'know. Nikkei moves 3%-4% in a day.
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I was just thinking the same thing yesterday. Maybe I'll only watch it Oct-March while all the cave dwellers are in hibernation.
 
06/19/2013 10:30 *DJ DOE: US Crude Oil Stocks +0.313M Bbl In Wk; Seen -0.4M Bbl

06/19/2013 10:30 *DJ DOE: US Crude Oil Stocks +0.313 Mln Bbl At 394.121 Mln Bbl
 
Quote from riskaddict:

I'm just holding puts as of this close. At 95 I'll hold slightly fewer and 93 I'll be out. .
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This is close enough to 95 letting a few lottery tickets ride.
 
I'm going to get slightly long here for a consolidation bounce targeting 95.40 and just pretend 94.60 means something and use that as a stop. Kind of a 50:50 trade.
 
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