CL Redux
- Thread starter schizo
- Start date
Quote from BCE:
Always a market mover. They showed you leaving your desk on CNBC.
I'm glad they exercised restraint and didn't show me muttering as I was leaving my desk, "This price action is a POS," because I was positioned short on the break of the 1:50pm ET bar and got stopped out @ 92.35, and decided the price action was a POS and lunch would be good idea.
And I'm really glad they didn't show me returning to my desk.
Only trade today for me today is buying SPY put options on possible reversal as we had weakness in afternoon looking like they want to bring it back down.
This news broke today but not widely reported from what I have found and is contradictory to earlier reports. Seems like the administration does not want to be blamed for the price run up or at least appear to be doing something about it.
http://www.foxbusiness.com/markets/2011/01/03/allow-companies-resume-drilling-gulf/
http://www.upi.com/Top_News/US/2011/01/03/Drilling-stalled-after-ban-is-lifted/UPI-14691294072734/
http://www.foxbusiness.com/markets/2011/01/03/allow-companies-resume-drilling-gulf/
http://www.upi.com/Top_News/US/2011/01/03/Drilling-stalled-after-ban-is-lifted/UPI-14691294072734/
the free money trade of the day would be to short below 91.25 and cover at 91 or better. The problem would be if it were to just gap down. Either way that arid 25 tick area is ripe for the pickin.
jesus by the time I finished that last post it was already below .25, lets see if I can receive immediate gratification.
long .90, add .50
exit 91.08
I second guessed the initial downmove and the entry, a little foggy and confused!
Taking a short at 91.40 on the qm.
Taking a short at 91.40 on the qm.