CL Redux

Quote from DonCorleone:

the greedy bastard in me is saying to hold on for a sell off. what does the BCDE indicator say?

yes, JD, that one. :)
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Got a bit lower. Even though we created the BCDE indicator I can't personally afford it myself. At least not until Waxie pays us. :p
 
Quote from JoshDance:

Got .90 target for +29, don't want to see a deep retrace here
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WTG JD!!! Very nice. I try to take what's there and sometimes leave a few $$ on the table too. But I'm afraid of retraces too and letting potential profits evaporate. It all adds up. I've mentioned this before and it's not that I'm some genius. But in a non-trending market, when it's just trading in a range, you just take a few hundred at a time and that adds up. There's a balance between letting a trade develop and letting profits evaporate. I discussed this with Visaria as we'll recall.

DC, you were up over $400 at one point there. CSW = Coulda, shoulda, woulda. The thing is, after a significant move in a market like this, you can take that profit and then reexamine the trade and enter back in if you think it will continue, but get right back out if it doesn't.
 
Quote from BCE:

WTG JD!!! Very nice. I try to take what's there and sometimes leave a few $$ on the table too. But I'm afraid of retraces too and letting potential profits evaporate. It all adds up. I've mentioned this before and it's not that I'm some genius. But in a non-trending market, when it's just trading in a range, you just take a few hundred at a time and that adds up.
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Thanks BCE--on a day like today, for me anyway, 30 in a trade has been difficult enough for me to warrant taking the profit. But really .90 was the target because of the weakness of the last push up. I see no reason to short right here, as it may very well try 100 to the tick again, but .90 seemed a good compromise. It will be interesting to see if the picture is similar to yesterday's... push up, up, up, weaker push up (maybe this one?), then crash down. Something kind of tells me that we may very well see a nice move up, as perhaps the above scenario is too predictable.
 
Quote from DonCorleone:

yea, greed sux.

i shoulda followed the BCDE indicator.
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Maybe you'll get a second chance here. Tank baby!!! :)

ADD: The retrace business is something one learns from observing this. NoDoji has mentioned this numerous times.
 
Quote from BCE:

Maybe you'll get a second chance here. Tank baby!!! :)
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Anything is possible of course, but this does not seem to have that character at the moment... the last dip to .51 was a test of last week's high, and buyers will want to see it settle above that level. Buyers are looking weak but so are sellers at the moment, so we'll just have to wait and see!
 
Quote from BCE:

Maybe you'll get a second chance here. Tank baby!!! :)

ADD: The retrace business is something one learns from observing this. NoDoji has mentioned this numerous times.
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nah, stopped out at b/e. i thought about re-entering at .95 but decided against it. yesterday it sold off at 2pm eastern. let's see what it does today although i highly doubt we're gonna see a similar steep drop.

add: JD is right. that 99.40-50 region should provide decent support now.
 
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