CL Redux

Quote from enochbenjamin:

observation - crude almost always makes a late day push between 12:30 and 1:15 CST before dropping - if its going to drop. for an idea of when the push is going to run out of steam at 12:30 draw a trendline (up) on a 5min chart. when you get a close below that line - its time to short.
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What we don't want is for this market to drift sideways creating a bull flag, only to kick up towards the close and ultimately close at the HOD.
 
Quote from saliva:

BP, Sorry to hear that. But a few of us did voice our concerns yesterday about a possible drift up following the inventory (especially this noob :D). However, this upthrust is really a gusher. Check out the daily chart. Boy does she know how to wag that long tail!

What's the consensus on the upside target before she trips and falls? I say 81.50-ish for now.
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yeah, that was in my head too, but after looking at the numbers, I was convinced it would go down big.

I was hurt by my own conviction. oh well, one more lesson learned.
 
Quote from saliva:

I smell massive stop orders to be triggered above 80.50, should we get there.
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Alright boyz, ante up.

Or could this end up as one more failed double-top?
 
This is absolutely recalculous.


I just bought back the other half of my SCO position. Maybe i can ride this pony again.

Stopping out around $82.
 
Quote from saliva:

Methinks we should reach 81 in no time.
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Or maybe not. It turns out to be damn head fake--or is it? We shall find out. :mad:

On that note, I would ideally short around here but I feel antsy about jumping in. Call it a trader-blindness.
 
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