CL Redux
- Thread starter schizo
- Start date
Quote from EON Kid:
you see Saddam had sons, Uday and Qusay buy all the CL contracts prior to the invasion, hence price was effected, forming a Inverted HnS prior to the news
(Just messing with you now, I see your point and I appreciate that you took the time to answer
).Yes, BUT...
you could have known a week in advance if you had been paying attention to the news:On July 25, 1990, the U.S. Ambassador in Iraq, April Glaspie, asked the Iraqi high command to explain the military preparations in progress, including the massing of Iraqi troops near the border.
The American ambassador declared to her Iraqi interlocutor that Washington, âinspired by the friendship and not by confrontation, does not have an opinionâ on the disagreement between Kuwait and Iraq, stating "we have no opinion on the Arab-Arab conflicts."
She also let Saddam Hussein know that the U.S. did not intend "to start an economic war against Iraq". These statements may have caused Saddam to believe he had received a diplomatic green light from the United States to invade Kuwait.
(From: http://en.wikipedia.org/wiki/Invasion_of_Kuwait)
On news, I attempt to jump in quickly in the direction of momentum, always using a limit order. I reserve stop-based entries for less volatile times than around immediate news releases. Jobless claims is hard piece of news, either good or bad, so I will go in quickly if I can get an order in edgewise. So off jobs this morning I got in quickly and had a solid trade, but I hesitated a moment off Philly Fed because it's a more "interpretive" report and sometimes price can whip. I had no idea how bad it was until I whacked the bid @ 75.19 and price fell nearly 30 ticks from my unfilled order, then I was afraid to chase, though it did end up falling another 25 ticks.
I often use marketable limit orders with CL, because I almost always trade in the direction of price and need to hit the bid or ask or risk not getting filled. Entering with a stop order prepared in advance is also a favorite of mine.
That was my analysis exactly. I figured it was consolidating for another push up based on overall bullish ag news and was looking to play long intraday if it broke out, but the breakout happened sneakily in the middle of the night while I was sleeping I thought I opened someone else's platform when I saw price in the $146's on the DOM where my POT was supposed to be.
