CL Redux

Quote from BCE:

I thought you exited at 110.60.

Did 2 QM's myself at 110.20 on the inventory news and just exited at 110.95.
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Good trade.

I exited my intraday trade at 110.6, but still kept my position trade.
 
Quote from bigsnack:

Just try and catch the pit open at 6 PST, and / or the 11 a.m. PST trade. One of those should make good things happen for you.

One thing I've really noticed lately is how horribly bad I perform between 7 pst and 8. Has anyone else noticed that as being a tougher hour to trade on the CL? I'm on the verge of writing it off as a no trade hour.
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I had a quick look for you, It seems 7 PST has a high incidence of consolidation, after a more directional move from 6 to 7 PST. Could this be it?

Either way you should be able to develop a strategy to exploit it.
 
Quote from BCE:

Take a break. Meeting a friend. Good trading to all of you. BBL.

ADD Coming up on page 3400. Schizo, the OP, receives $1,000 per page created. :)
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what about my cut?, I kept it going during the quiet periods when he was in rehab :D
 
Quote from EON Kid:

I had a quick look for you, It seems 7 PST has a high incidence of consolidation, after a more directional move from 6 to 7 PST. Could this be it?

Either way you should be able to develop a strategy to exploit it.
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True, thanks for the insight. I'm still trying to nail the one setup that I have on the CL. I still overtrade it a bit, so I want to cremate that one first and then try the other stuff. After some b/e's and scared entries / exits, I finally got a decent setup...

2011-04-20-TOS_CHARTS.png
 
<< Maybe they are on to something >>

I speculate Here is what that some thing was. :D

- Pre-report price high was conveniently kept at high 109.87 for hours then at 109.92 then drop back to 109.20 .

- basically showing no break of 110 when S&P is at +16 points and EUR at 200 points both rock solid no wiggling for hours.

- that not breaking 110 & that drop back to 109.20 is to create illusion that CL is not as strong as equities& EURO.

- when equities and EURO is so strong not even blinking how is it possible for CL waiting at 109.85 for long time not breaking 110 , that was planned for post Report.

- I guess all this delayed break is to TRAP new SHORTS at 109.70 levels ....

- Regardless of the Report numbers , given strong equities and EURO CL was planned for high 110.90 , report added another 50 ticks

- all reports are crude +1.5 mil , gasoline -1.8 making net neutral , the only diff this is crude also draw (-)

Quote from BCE:

I don't think so. It's just strong on the general market's strength. Housing data was good = markets climb a bit higher.

So much for Goldman's call the other day. Was thinking of that last night. IV mentioned the increased volume yesterday. That was probably GS loading up after their call to bring the price back down so they could jump in. :)

Good point DC about the retracement.

ADD Interesting that it's so strong right before the report. Maybe they are on to something V.
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