CL Redux

Quote from schizo:

BTW I've never seen ES drop by as much as 100 points just because the weekly TL was violated and I've traded that damn thing for 10 years.
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My charts and DOMs all froze. I saw ES @ 1065 on QuoteTracker and I really thought that was a good long entry and I couldn't trade.
 
Quote from Mitch83:

HAHAHAHAHAHA

"sounds crazy but Hearing Citi's program desk had an e-mini program error. Meant to sell $16mm of the e-minis but put in $16bln instead."

http://twitter.com/MrTopStep
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I saw that earlier. Sounds like a big joke. How could a multi-billion dollar firm screw up like that? Makes no friggin' sense. Anyway, I wish I had known this was coming. I was seriously bearish from Tuesday but there was no way to have known of this large drop based on TA. Even if I were short, I would have gotten out prematurely. The damn thing simply defied reason.

Also why 1065? Because it's close to the most recent low? What about all the important S/R levels leading up to 1065?
 
Quote from schizo:

Also why 1065? Because it's close to the most recent low? What about all the important S/R levels leading up to 1065?
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I was watching both CL and ES for reversal signals half the day because they both seemed quite overdone. I saw emg moving his bid down and finally filled at 1135 and I didn't care much for that, no man's land to me, and I was eyeing 1125. It bounced so quickly off 1125, pretty much the 5 pts I would've hoped for that I didn't want to chase an entry as a bottom picker. I decided to be the second mouse that gets the cheese. Price pulled back to the LOD and I watched for support or a failed breakout. Suddenly it was "Look out below!" Then I really didn't want to be a bottom picker so waited a bit. Panic at the disco after that. So I was watching my DOM all this time, but my DOM was stuck at that 1099/1099 bid/ask level and by the time I looked at my QT charts, it was a huge red bar and I saw price in the 1060's, shook my head and all I could think was "I guess that's what blood running in the streets looks like. Buy the dip, buy the dip." By the time my DOM recovered it was back in the 1090's and I was scared shitless to do anything at that point.
 
Hi, to all,
Today I couldn't trade because I was sick......and of my rules is don't trade when you don't feel well, although this move did not surprise me, It was crazy!!!!

I pointed out, Tuesday in the afternoon, that the Oil will collapse for fundamental reasons, even though we haven't follow fundamentals lately, but at the end market makes a correction, plus all the news that we have go lately. having said that, I look at the major contango that we are at, all the news coming fro Europe, strong dollar, etc, etc.......all point bearish, but, I believe tomorrow will be a positve day for the CL, for the fact that it's Friday, and usually big play traders, will be taking profit.

What you guys think. What its your outlook for tomorrow?
 
wow, wow. I did not realize CL could go so low, panic and dumped my holding with a nasty loss (glad I just have QMs).
but I seized NQ, could not believe it, saw it dropped 10% 200point in matter of second, have the nerve to buy it and hold for 100 point gain in five minutes! accidently enterd a short, and immeadiately covered it.
 

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Quote from mrbochin23:

What you guys think. What its your outlook for tomorrow?
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I think I shoulda swung those shorts you talked me into the other day :D
 
Quote from mrbochin23:

What you guys think. What its your outlook for tomorrow?
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We CROSSED AND CLOSED below the major trendline extending back to the April 2009 low (or is that March, I can't remember and too damn lazy to open the chart). As such, we're now officially in the bear country as of today. Rather than buying the dips, it's probably better to sell the rips from here on out.
 
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