CL Redux

[Picaso]

Quote from Blubaru_555:

i can't find any news saying the storm is going to miss oil productions in the gulf

While I'm sure you have a point as to the storm providing some support:

http://noir.bloomberg.com/apps/news?pid=20601072&sid=aYlLKgLq8DlY

Also, euro is down 0.8%, but the rest of currencies are basically flat (and oil is down over 1% down, could be/should be more?, maybe).

You're still in the money, though, so congrats.

 

[Picaso]

For your viewing pleasure:

(Sorry for so many posts)

 

[Blubaru_555]

not at all, thx for the info, just makes holding this short that much easier. stop set to 78.15

 

[Blubaru_555]

Quote from Blubaru_555:
stop set to 78.15

flat 77.84. scared of a rebound here

 

[mrbochin23]

Quote from Blubaru_555:

flat 77.84. scared of a rebound here

I don't care what happens from now to 4:15, but today is classic day of In balance day...........a beautiful example of Market Profile, not even if we would it script it.

 

[cstfx]

Quote from mrbochin23:

... but today is classic day of In balance day...........a beautiful example of Market Profile, not even if we would it script it.

Pardon the ignorance, but can you elaborate?

 

[mrbochin23]

Quote from cstfx:

Pardon the ignorance, but can you elaborate?

In market profile when market is "in balance" meaning buyers and sellers agrees with a price range, you will see a formation with a big "Belly" more horizontal, with almost no direction in vertical direction.

In simple words we have a tiny Value Are, and Initial Balance, tomorrow, a break an open above 78.26 or under 77.94, could give good clues of the direction of the market.

Here is the picture.
If you have any other questions, please feel free to ask me.

 

[nycderivtrader]

Now that it appears that Huricane Alex is headed west and will remain south west of the main oil drilling locations, my belief is that we will see oil retreat into Tuesday/Wednesday. Based upon what I am anticipating after viewing a 1% down/flat day vs. the 2% gain last week (due to short covering after large supply numbers) it would appear that oil has to move down a little to remain in tune with the relative markets (dollar, equities, other commodities).

I think we are in tune for another dip to about 77.

NYCDT

 

[Picaso]

Anyone feeling inclined to short at these levels?

I'm looking for a rebound... only I just don't see it

 

[EON Kid]

Quote from Picaso:

Anyone feeling inclined to short at these levels?

I'm looking for a rebound... only I just don't see it

yeah 7540 looks like support, dependent on 6E and ES of course