CL Redux

Quote from ammo:

this break out and turn back down ,the turn back down and the distance it traveled above the line in no mans land could have been caught by watching the ticker and blocks of stock increasing in size traded on the offer and then bids being hit with invcreasing size telling the turn,you can see that if you are watching the tape and the block trades,the chart just tells you it went above the line and it is now coming back down, the tape would have told you at exactly what point we were turning, the difference is about 40 cents
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Actually IMHO it was more obvious on the chart once again. What do you think this massive volume meant coming right off of an all time high?


Look at it in comparison to the previous days as well.
 

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u r probably right track, i never watch volume anymore,u used to be able to i pickoff all the programs watching the ticker in ge because it didnt have that big of a daily trading range and the larger volume moves were easy tp spot.... edit...i dont know if thats a 1 or 5 minute chart but u had 4 bars to unload longs or get short
 
Quote from ammo:

u r probably right track, i never watch volume anymore,u used to be able to i pickoff all the programs watching the ticker in ge because it didnt have that big of a daily trading range and the larger volume moves were easy tp spot.... edit...i dont know if thats a 1 or 5 minute chart but u had 4 bars to unload longs or get short
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It was a 15min, but yes you are right. It was during a time that short positions were also being built in the indexes and crude.


Back to the crude thread :). Limit order active at 83.75 for 3 of my 4 remaining contracts. Stop on whole position at 86.31
 
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