CL Redux

Quote from spd:

nice, i was hoping you bailed out of that one. price action isnt convincing one way or another today
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Thanks. That flip-flop action has cost me some but on the whole I came out alright.
 
Quote from schizo:

short 73.21
stop 73.35
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Nice! I had to step away for a minute, and sure enough it turned out to be a loser big time.

What do you see going forward? I see a dilapidated head-and-shoulders forming (on the 5-minute chart).
 
Quote from spd:

Against my better judgmenet

Long: 73.37
Stop: 73.20
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Out: 73.57

wcomeh.jpg


Was 1 tick away from being stopped out after I moved my stop to break-even
 
Quote from schizo:


What do you see going forward? I see a dilapidated head-and-shoulders forming.
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Going forward I see a trip to the coffee shop and some laundry :D

seriously though, i wouldnt short this thing. chek the daily, we have busted through some resistance.

igen3o.jpg
 
Doesnt look like we will break through the intraday highs before the floor session closes today, pulling back pretty hard right now.

Going forward I think the bullish momentum will keep up, support @ 73.38 next resistance @ 74.93

I plan on continuing to buy dips and avoid my urge to fade the big moves upward.
 
I dunno. I say there's a good chance we revisit the 72.50 area. But I don't particularly feel the urge to fade it here as you suggest.
 
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