CL Redux

[Picaso]

Quote from Speciaul_K:

Were's my props? Im still short from 7920

Jealous bitch...

(If you don't call them, you don't get my props )

Quote from Speciaul_K:

Gotta be alot of sad bulls today. Look for a push below yesterdays low

Hey SK, nice call!!!

 

[Speciaul_K]

Anyone else seeing 7650+- as a target?

 

[Speciaul_K]

Quote from Picaso:

Jealous bitch...

(If you don't call them, you don't get my props )




Hey SK, nice call!!!

Thanks, now I better about myself .. I don't always call them cause it seems like the market goes the other direction when I do, and I sure as hell am not going to sit around all day with a tinfoil hat on

 

[InvestVision]

It seems this big Oil drop is due to the following , not EURO drop which is negligible ..

Losses mount for crude-oil after murky macro data


http://www.marketwatch.com/story/oil-track-stocks-in-rising-above-79-a-barrel-2010-07-27

I guess we close 78+ today
---

Crude-oil futures for September delivery lost $1.51, or 2%, to $77.42 a barrel on the New York Mercantile Exchange. Oil had started floor trading in the black but turned lower
as gauges for housing and
consumer confidence spooked investors.

1) Consumer confidence fell in July on concerns about jobs and business conditions, following a sharp decline in June, the Conference Board said Tuesday. July's consumer confidence index fell to 50.4, its lowest level since February, from 54.3 in June.

2) The Standard & Poor's reported a 1.3% rise in prices of single-family homes in major metropolitan areas in the U.S., the second rise for the Case-Shiller index after six declines. A broader look at prices over the past year, <b>however, does not indicate a recovery for the housing market, the index preparers said.</b>

 

[NoDoji]

I would like to confirm that having a sell stop at the LOD well in advance of price getting there prevents slippage. Not a tick of slippage despite the viciousness of that breakout.

 

[Picaso]

Quote from InvestVision:

It seems this big Oil drop is due to the following , not EURO drop which is negligible ..

Losses mount for crude-oil after murky macro data


http://www.marketwatch.com/story/oil-track-stocks-in-rising-above-79-a-barrel-2010-07-27

I guess we close 78+ today

Maybe, but pundits' analysis is always after the fact - maybe also we're pricing out the drop in inventories that was being discounted with the storms, etc. blah, blah, blah...

Hope you got/get out ok of that long

 

[Picaso]

Quote from NoDoji:

I would like to confirm that having a sell stop at the LOD well in advance of price getting there prevents slippage. Not a tick of slippage despite the viciousness of that breakout.

78.74, 78.24 or 77.81?

(Congrats )

 

[Speciaul_K]

Quote from NoDoji:

I would like to confirm that having a sell stop at the LOD well in advance of price getting there prevents slippage. Not a tick of slippage despite the viciousness of that breakout.

I would not sell stop at lod. When its broken there will be short covering below it.
I think you missed the sell stop boat already. Which was yesterdays lod

 

[NoDoji]

Quote from Picaso:

78.74, 78.24 or 77.81?

(Congrats )

Sell stop @ 78.23. I covered way too early though :eek:

 

[NoDoji]

Quote from Speciaul_K:

I would not sell stop at lod. When its broken there will be short covering below it.

That's why I covered too quickly. I assumed another short covering/bounce after a 30-tick move because price had already come down so much. The violence of the next down bar sort of put "so much" into a whole new perspective!