CL Redux

Quote from Picaso:

Schizo, I know that you have had some very profitable swing trades in oil, but are you ok with leaving open a short position over a weekend, particularly when it doesn't have any open profit "cushion"? (An honest question)
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I'll let you know once I pocket my chump change or get stopped out. :)

Barring any unforeseen macro events over the weekend, such as war, terrorism or sudden hurricane out of nowhere, I feel pretty good about this trade.

One thing I noticed as CL was approaching the close was that it didn't fall as much as ES or other equities. Perhaps it's following in the footsteps of Euro but I feel there will be a sharp correction should it decide to catch up with ES come Monday. Another prominent eyesore, if you happen to be a bull, is that none of the three previous days closed up above the trendline. I think that should serve as a warning sign.

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Quote from Picaso:

Yeah, I guessed you'd short it, sorry it didn't work, one more push down and it'd gone to 74.40.

But, hey, you're taking (all) your trades, which is the important thing :)
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Yeah, I saw the huge airspace between 75.21 previous support and 74.25 and was filled with glee for a brief moment as price jumped nearly to 75.21.

I couldn't take most of my early signals due to connectivity issues :mad:
 
Quote from Picaso:

Morning everyone.

Started the day with a <strike>very</strike> bearish bias - not good.
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patientbear.jpg
 
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