CL Redux

[JoshDance]

Quote from JoshDance:

Short .36 stop .39

Out .35

 

[JoshDance]

Will short .26

 

[JoshDance]

Quote from JoshDance:

Will short .26

Out .07

 

[JoshDance]

Long .28 stop .18

 

[JoshDance]

Quote from JoshDance:

Long .28 stop .18

Out .30 ... bulls just aren't taking it right now even though sellers are worn out.

 

[JoshDance]

Long .91 stop .88

 

[JoshDance]

Quote from JoshDance:

Long .91 stop .88

Out .04 for a little profit .. easy money definitely the other way though.

 

[BCE]

GM

Tried a bunch of "rebound" longs but it didn't rebound and kept getting stopped out. Then caught one from .91 to .08 and now am only down 6 ticks. Lots of selling pressure today. More than I thought. Obviously easy money was short. But I was up for more of a challenge.

 

[BCE]

Consumer confidence and home sales in a few. http://www.briefing.com/investor/calendars/economic/2011/07/25-29/

 

[JoshDance]

If you look at what happened on the daily chart, I said I expected a long day today. Well, others did too early apparently and bought at 8:30AM a break long of yesterday's high... classic fake up, and push down. Turned away by 100, and down she goes. Inside bars can be quite powerful. For the long term, we may very well get a very deep correction if we can break some trend lines, but for now the one from late June is still intact.. I would not initiate a long-term short position until that is broken. Higher lows...