CL Redux
- Thread starter schizo
- Start date
out 109.20
out +20
after that fact: Here is one thought why there is NO buyer for OIL today .
any fund manager who missed taking profit and lost 15% profit booking on silver and 4% on GOLD ( last 2 sessions ) will do one thing today
- book profit on OIL by selling early in the morning ..
any fund manager who missed taking profit and lost 15% profit booking on silver and 4% on GOLD ( last 2 sessions ) will do one thing today
- book profit on OIL by selling early in the morning ..
Greetings Everyone,
Well today was a lot of picking up table scraps after the real move was underway. I missed the smash me in the face short in the morning, and again found myself one step behind on the trend. The good news is that with volume leading the way, most of my trades were in the green, I was just holding for the rip out that never ended up coming.... until I wasn't paying attention of course
AM:
I thought this morning went well.
1. I missed the glorious short while trading the ES.
2. The next two longs matched my setup pretty closely, so I'm not bummed that they didn't explode. Both were in the green comfortably, but I was hoping for a screaming reversal that never materialized. Lately the ES and CL have been tracking very closely, so I should have known better since I wasn't getting any long signals on the the ES.
3. I had to try this short twice. The HUGE volume was the clue for me. I remembered yesterday how the huge volume coming in didn't hold the market up at all, so my thinking was similar here. This worked out pretty well.
PM:
AREA1: Got a setup, took it, and it failed. When it failed I just reversed and that trade went well. I tried to hold a second contract for a bleeder and that didn't pan out.
AREA2: I got a long signal and took it. This trade took forever to materialize, but finally got there. I held through the chop because the last major swing was not violated, and volume never came in to the downside.
Net after commisisons: 22 ticks
Well today was a lot of picking up table scraps after the real move was underway. I missed the smash me in the face short in the morning, and again found myself one step behind on the trend. The good news is that with volume leading the way, most of my trades were in the green, I was just holding for the rip out that never ended up coming.... until I wasn't paying attention of course
AM:
I thought this morning went well.
1. I missed the glorious short while trading the ES.
2. The next two longs matched my setup pretty closely, so I'm not bummed that they didn't explode. Both were in the green comfortably, but I was hoping for a screaming reversal that never materialized. Lately the ES and CL have been tracking very closely, so I should have known better since I wasn't getting any long signals on the the ES.
3. I had to try this short twice. The HUGE volume was the clue for me. I remembered yesterday how the huge volume coming in didn't hold the market up at all, so my thinking was similar here. This worked out pretty well.
PM:
AREA1: Got a setup, took it, and it failed. When it failed I just reversed and that trade went well. I tried to hold a second contract for a bleeder and that didn't pan out.
AREA2: I got a long signal and took it. This trade took forever to materialize, but finally got there. I held through the chop because the last major swing was not violated, and volume never came in to the downside.
Net after commisisons: 22 ticks
Here I found some thing on the LINES I posted earlier ..
http://www.marketwatch.com/story/oi...n-trading-2011-05-04?link=MW_home_latest_news
Oil was also pressured by a continued selloff in metals, most notably silver.
Silver for July delivery SIN11 -7.81% settled 7.5% lower, still reeling from its exchangeâs three margin-requirement increases in recent days. Read more about metals.
The steep decline in silver futures affected the money flow in commodities in general, said Bill OâNeill, a principal at Logic Advisors in New Jersey.
As the CME Group Inc. CME -1.67% , which owns Comex and Nymex, raised the margin requirement to trade silver, some investors âare going to sell other things to accommodate that,â he said.
Besides, psychological factors are also at play, as silverâs plunge may spur concerns about possible selloffs in gold and other commodities, as a number of large funds and players trade several commodities, he added.
http://www.marketwatch.com/story/oi...n-trading-2011-05-04?link=MW_home_latest_news
Oil was also pressured by a continued selloff in metals, most notably silver.
Silver for July delivery SIN11 -7.81% settled 7.5% lower, still reeling from its exchangeâs three margin-requirement increases in recent days. Read more about metals.
The steep decline in silver futures affected the money flow in commodities in general, said Bill OâNeill, a principal at Logic Advisors in New Jersey.
As the CME Group Inc. CME -1.67% , which owns Comex and Nymex, raised the margin requirement to trade silver, some investors âare going to sell other things to accommodate that,â he said.
Besides, psychological factors are also at play, as silverâs plunge may spur concerns about possible selloffs in gold and other commodities, as a number of large funds and players trade several commodities, he added.
Quote from InvestVision:
after that fact: Here is one thought why there is NO buyer for OIL today .
any fund manager who missed taking profit and lost 15% profit booking on silver and 4% on GOLD ( last 2 sessions ) will do one thing today
- book profit on OIL by selling early in the morning ..
so that's +55 ticks today.
+96 ticks yesterday
And the previous 2 days I lost every single trade.
Place your bets as to how tomorrow goes! :eek:
anyone able to catch any of this drop?