CL Redux

[schizo]

Quote from schizo:

The gods just might grant the fat lady her wish. The momentum seems to be picking up here. But I'm still sticking with my flat-as-a-pancake prediction.

It is not to be. The frivolous deities of the filthy underground would not allow the fat lady to sing her way into heaven. Her sorrow shall be compensated with more pancakes.

 

[schizo]

Quote from NoDoji:

(me too, and it's unlike anything I've ever experienced in ES; ok watching CL now, looks like some life in it...)

Although I try to aim for the big dippers, it's also super easy to grab 2-3 points scalp. That's what I've been doing most of the day.

 

[schizo]

Quote from schizo:

I think we'll just chop around at the low. I don't expect a rally.

Quote from schizo:

Chop chop. I'll update this every 30-minutes to see how it fares.

Final update.

The verdict is in: Flat as a pancake. It looks pretty flat to me. How about you?

 

[schizo]

Here's the concluding remark.

If you have a rangebound market following a steep selloff, especially if it's a "inside day" pattern, what's the likely outcome for the next day or days to come?

Hint: Boo-ya! (well, so sez my broken crystal ball.)

 

[Airwaves]

Quote from schizo:

Here's the concluding remark.

If you have a rangebound market following a steep selloff, especially if it's a "inside day" pattern, what's the likely outcome for the next day or days to come?

further sell off?

I've done OK today.
I always get killed on huge trend days, but do good in choppier days.

I feel that i need to find a good 'trend trade setup'.
I seem to be OK at picking turns, but i've never really found a good way to 'go with the trend' like everyone tells me i should be doing. When i go with the trend i buy the high tick and short the low tick

 

[NoDoji]

Quote from Airwaves:

I feel that i need to find a good 'trend trade setup'.
I seem to be OK at picking turns, but i've never really found a good way to 'go with the trend' like everyone tells me i should be doing. When i go with the trend i buy the high tick and short the low tick

Early breakouts can be very good. Nothing like stops from both sides of the fence triggering to drive price to a new high/low. Works well until the 3rd one, then I start to look for reversal signals.

 

[schizo]

Quote from NoDoji:

Early breakouts can be very good. Nothing like stops from both sides of the fence triggering to drive price to a new high/low. Works well until the 3rd one, then I start to look for reversal signals.

Yes, it's worth remembering that the second mouse gets the cheese while the third gets (fill-in-the-blank).

 

[Speciaul_K]

Quote from schizo:

Final update.

The verdict is in: Flat as a pancake. It looks pretty flat to me. How about you?

It really seemed like another cl day. I just opted not to trade it cause I knew es was going to have great profit potential.

 

[schizo]

Quote from Airwaves:

further sell off?

I've done OK today.
I always get killed on huge trend days, but do good in choppier days.

I feel that i need to find a good 'trend trade setup'.
I seem to be OK at picking turns, but i've never really found a good way to 'go with the trend' like everyone tells me i should be doing. When i go with the trend i buy the high tick and short the low tick

Further sell off? Likely not although nothing can be ruled out as it was clearly demonstrated from yesterday's selloff. Personally, I would position myself for a reversal next week. However, I don't anticipate we rally right back up to the high made earlier this week.

Anyway, what I would be looking for is a narrow range bar (or more precisely narrow range candle body) followed by a hammer formation. Once you see a hammer with its wick above yesterday's low, it's time to bellow out "boo-ya!" and go long. Man, do I love Jim Cramer. The dude needs to go hang himself. :eek:

 

[HuggieBear]

CL has finally done me in this week. She gave so much, but it was only a matter of time.