CL Redux

[InvestVision]

US cost
-------------

- The U.S. government has spent about $550 million on the Libya effort, the Pentagon said Tuesday,

- adding that about 60% of that went for munitions.
- Another $40 million is expected to be spent over the next three weeks.
- After that, costs are expected to be about $40 million per month, said Pentagon spokeswoman Cmdr. Kathleen Kesler.

 

[MonumentMan]

it seems like CL becomes boring after 2 PM New York time. Is that when pits close or something?

 

[Visaria]

The U.S. government has spent about $550 million on the Libya effort, the Pentagon said Tuesday,


That's only a couple of hours of printing by bernanke:

http://www.youtube.com/watch?v=YcXcH6yL8p8

 

[MonumentMan]

is this site based in England?

 

[JohnBob]

Quote from MonumentMan:

it seems like CL becomes boring after 2 PM New York time. Is that when pits close or something?

230PM

 

[Visaria]

Quote from InvestVision:

so this is leaked API report numbers , let us compare this against real API numbers when released.

this is report is bullish for OIL price JUST by these numbers, only 1 Million barrels crude build and 8 M draw down on gasoline stocks .

Hey, I don't think these are leaked figures. I wouldn't trade off them!

 

[NoDoji]

Quote from MonumentMan:

it seems like CL becomes boring after 2 PM New York time. Is that when pits close or something?

Pit closes at 2:30pm eastern time.

Regarding profit targets, it depends on the environment. If I'm trading a good trending move, I like to target a 20-tick or better break of previous support or resistance.

For example, a long today @ 103.81 during the 10:10am ET 5-min bar would target a break of previous resistance 103.97, and 20 ticks from there is 104.17, at which point I'll gauge the "feel" of the price action to decide if I want to lock in profit or hold for more.

Counter-trend, I generally use a 20 tick hard target unless the trend line or 20-bar moving average is reasonably farther away.

 

[Visaria]

The numbers came out and CL took a dive. Unfortunately I do not have a position.

 

[MonumentMan]

Quote from NoDoji:

Pit closes at 2:30pm eastern time.

Regarding profit targets, it depends on the environment. If I'm trading a good trending move, I like to target a 20-tick or better break of previous support or resistance.

For example, a long today @ 103.81 during the 10:10am ET 5-min bar would target a break of previous resistance 103.97, and 20 ticks from there is 104.17, at which point I'll gauge the "feel" of the price action to decide if I want to lock in profit or hold for more.

Counter-trend, I generally use a 20 tick hard target unless the trend line or 20-bar moving average is reasonably farther away.

I just went back to the chart and I think I know what you're talking about (10:10am). Whether I can implement a strategy so successfully, I am not sure. I thank you for the pointers. One question: how do I set up a 20-bar MA?

 

[MonumentMan]

Quote from MonumentMan:

I just went back to the chart and I think I know what you're talking about (10:10am). Whether I can implement a strategy so successfully, I am not sure. I thank you for the pointers. One question: how do I set up a 20-bar MA?

You went long at 103.81, resistance was at 103.97, which occurred at 9:30am. if the price went through 103.97, you wanted another 20 ticks ( or cents, right)? But once the price hit 103.97, you did not sell; you wanted to feel if the price was going higher? How do you feel that?