CL Redux

Long 72.63

be

one tick from being stopped out

traget 73.40-ish [edit: target - ducking fislexia!)

Will add twice (if I'm not stopped out before :D)

Playing it tight, though since I'm forcing my entry a bit after missing oh-so-many-nice entries all day long

Stopped out at .72 while trying to add at .76 (and move stop to be of avg price).
 
Quote from EON Kid:

CL looks done for the day, Es slowing down, both should turn down
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Now here is my question for tomorrow market. We are expecting the worse in terms in of Job numbers, being the market is so negative, do you think it's already price in this 72.00-50 range, or we have room for more downside tomorrow.

Thanks.
 
Quote from mrbochin23:

Now here is my question for tomorrow market. We are expecting the worse in terms in of Job numbers, being the market is so negative, do you think it's already price in this 72.00-50 range, or we have room for more downside tomorrow.

Thanks.
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Given the indecision, why trade directionally when you can place positions independent of market direction?
 
Quote from Corelio:

Given the indecision, why trade directionally when you can place positions independent of market direction?
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Sorry for my ignorance, but what you mean?
 
Quote from mrbochin23:

Now here is my question for tomorrow market. We are expecting the worse in terms in of Job numbers, being the market is so negative, do you think it's already price in this 72.00-50 range, or we have room for more downside tomorrow.

Thanks.
More...

If your expecting the worst then just be ready for a surprise number

Todays Cl chart looks poised for more downside.

Maybe to the 70 level over a few days.

just a guess, have a good evening
 
Quote from mrbochin23:

Sorry for my ignorance, but what you mean?
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Spread combinations, pair trades, and volatility plays. There is no need to guess market direction.
 
Quote from mrbochin23:

Now here is my question for tomorrow market. We are expecting the worse in terms in of Job numbers, being the market is so negative, do you think it's already price in this 72.00-50 range, or we have room for more downside tomorrow.

Thanks.
More...

The daily chart looks very heavy. If you're a swing trader who's short from Monday's lower high on the daily chart, or from yesterday's downside breakout, I see no reason to take profits yet.

But if you trade intraday, just trade either direction based on the price action.

Unless you're like me and have an extreme short bias.

Which works anyway because there are just as many decent shorts as longs in CL on any given day.

I actually went long a stock today and nearly gave my trading roomies a seizure :p
 
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