CL Redux

Well, I noobed this one right up the kiester. Around 12:52 central, I had a limit sell on at 104.85, but then I took it off as it got further away (thought maybe there'd be a snap-back to make a new high--I generally don't like taking positions outside of clear S/R, and we were technically above the 104.80 R). Then, after it stopped at .85 again at 12:58 central, I put the order back on, which wasn't filled, so I got to just watch the tumble.

Live and learn, I guess (or at least I hope). I'm sharing so that hopefully I won't do this again (I think I shouldn't have been afraid of a snap-back new high when it only went down to .76 and the run to .92 looked like an exhaustion flare top). Plus I'm really tired today and generally not trusting myself (wife is due in about a week, so I'm nervous and not sleeping well).
 
Heh, Holey Grail...I've been there so many times with CL...it's like I'm thinking thinking thinking, and right when I'm ready to pull the trigger, it runs away from me.

Anyways, I'm considering swinging short here on a small size (one car), hmmm....
 
when I said MMs ( Market makers ) it is generic sense , basically it is same group
Hedgies/big traders/MMs :p

Quote from schizo:

I'm told that it's the retail that's buying and the hedgies are dumping.
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@schizo that why we call you our Resident BEAR , as you have balls to hold this long :D

in all this hoopla , I forgot to initiate my SIM trades , big missed opty on my SIM account :mad:

Quote from schizo:

Quote from schizo:

Short 105.35
Add 104.59
[/B]
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we got there 104.0 , but as usual CL does not follow the logical timing

may be it does , the logical path of CL own Price action is " counter intuition path of retail traders " :p

Quote from InvestVision:

Add 104.44 , stop 104.61

there should be a retest of 104.00 today for sure , but the question is when , logically it is supposed to be in next 20 min .. let us see

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Add 104.68


Quote from InvestVision:

Short 104.78
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Quote from Holey Grail:

Well, I noobed this one right up the kiester. Around 12:52 central, I had a limit sell on at 104.85, but then I took it off as it got further away (thought maybe there'd be a snap-back to make a new high--I generally don't like taking positions outside of clear S/R, and we were technically above the 104.80 R). Then, after it stopped at .85 again at 12:58 central, I put the order back on, which wasn't filled, so I got to just watch the tumble.
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Oh geez after I read your 1st post I figured you were off celebrating. That head fake that broke above that congestion area f$!&ed me up to, I got stopped out of one of my shorts and I never replaced it. Tomorrow should be a tell tale sign for what the rest of the week should bring. Either way if we get to 103 - 102.80 area I'll be less short and then like schiz said 102 could start to form the right shoulder on the daily. If we get below 102 that straddle will be crushing it. Go Bears!
 
Quote from InvestVision:

@schizo that why we call you our Resident BEAR , as you have balls to hold this long :D
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That's me alright. So why dontcha gimme a big bear hug?

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Quote from riskaddict:

Oh geez after I read your 1st post I figured you were off celebrating.
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Yeah, that's the bitch of it--the move I was stalking all day happened and I wasn't on board.

Another major issue is that I'm daytrading while also working as a lawyer. Which is probably a stupid-ass thing to do. I have to pass up positions sometimes because I have a call or someone walks in my office.

However, I'm going to take time off work when the kiddo comes, so I'll be able to trade only for a month or so (second kid, and we have a nanny, so should be good from 10 to 2 central). I'm hoping that after that month I've got some things solidified so I can be consistently profitable given my time and attention limitations at work.

(Sorry, back to CL Redux . . .).
 
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