CL Redux

[EON Kid]

Quote from BlueStreek:

England austerity plan, they are kitchen sinking it....bring back budget deficits in focus in europe, then follow through tomorrow with housing in us.......we should be red tomorrow for sure.

markets most likely discounted it


http://www.euronews.net/2010/06/21/tough-austerity-measures-expected-in-uk-budget/

 

[Gabfly1]

Don't you guys just trade price action anyway? If you had a good looking setup contrary to your interpretation of the fundamentals, would you pass it up?

 

[mrbochin23]

Quote from Gabfly1:

Don't you guys just trade price action anyway? If you had a good looking setup contrary to your interpretation of the fundamentals, would you pass it up?

Yes, but its some news that you just can't ignore.

 

[Gabfly1]

Quote from mrbochin23:

Yes, but its some news that you just can't ignore.

So if the news says one thing and price action strongly says something else, to which would you yield?

 

[schizo]

Quote from Gabfly1:

So if the news says one thing and price action strongly says something else, to which would you yield?

Price, since everything is already priced in (so I'm told).

 

[Speciaul_K]

Quote from Gabfly1:

Don't you guys just trade price action anyway? If you had a good looking setup contrary to your interpretation of the fundamentals, would you pass it up?

Technicals

 

[Gabfly1]

Quote from Speciaul_K:

Technicals

Quote from schizo:

Price, since everything is already priced in (so I'm told).

I am inclined to agree. So then, while talk about fundamentals is interesting and makes us all feel important, knowledgeable and clued in, is it not somewhat superfluous, especially for the holding periods under consideration in this thread? (Just being the fly in the ointment. )

P.S. I don't think everything is always, entirely and immediately priced in, because if it were, then markets would be completely efficient. My understanding is that traders rely on market inefficiencies.

 

[BlueStreek]

market pyschology of the moment is never priced in, people knew the greeks were going to protest ahead of time, it wasn`t till the pictures of the riots happened on tv, that the shorts took advantage.

While everybody is discussing slower growth in europe overnight, shorts in europe at 2:30 am will be shorting cl down--its the game.

 

[neveral0ne]

are you guys trading the August contract ? or still with july ?

 

[cstfx]

Wow! Can't turn your back on this b*tch for a moment!