CL Redux

Quote from BCE:

Closed @.10. Hey, it keeps retracing.

Nice job. I shorted .86 for a loser earlier (-10 I think), then shorted .12 and covered .95 -- I agree with you, I absolutely hate this movement. I shouldn't, because it's just neutral information and I have no reason to attach negative emotion to it, but the reality is that I do.

People talk about the market not knowing where your stop is, etc., which is true, but market participants DO know where many people will have their stops, and those with the big money will just take them out. They know what inexperienced traders are likely to do, and they take advantage of that. It's all fair, so I'm not saying it isn't. And if I lose, then it's my fault. But, for those who say "supply and demand" drive the market, etc., fundamentally that may be true, but what really drives it is speculators who want to transfer money into their accounts. It's really not classical "supply and demand" on days like this--it's just smart traders and computers taking advantage of crowd behavior.
 
Quote from InvestVision:

Will Oil Reach $120 by December?

Heck if I know but I remember people talking about oil reaching $150 this summer, back during the big runup to $115. Of course, as soon as they said that, it dropped like a brick.
 
Quote from JoshDance:

Heck if I know but I remember people talking about oil reaching $150 this summer, back during the big runup to $115. Of course, as soon as they said that, it dropped like a brick.
Goldman was calling for $200 a barrel back when it was $147 and then it fell to $32. People are always speculating about the price of crude and the markets in general.
 
Ever since 12:55, we have had a divergence between price (falling) and delta (rising). They seem hesitant to sell this off. Will be interesting to see what happens.
 
Quote from BCE:

DX has really rebounded today, which puts more pressure on crude. 30 min chart.

Yes but even with all that pressure, oil has held stable. And DX looks a bit exhausted to the upside from that picture (and of course euro to down side), perhaps time for a move up on oil now...?
 
Quote from JoshDance:

Yes but even with all that pressure, oil has held stable. And DX looks a bit exhausted to the upside from that picture, perhaps time for a move up on oil now...?
Agree. Trying L@.89 in anticipation of a last hour bounce. Anticipation always a dangerous game of course. :) Now it falls to 96. :)
 
Quote from BCE:

Agree. Trying L@.89 in anticipation of a last hour bounce. Anticipation always a dangerous game of course. :) Now it falls to 96. :)

I am long .01, was a little too slow to get in at .95 .. blast it
 
Quote from BCE:

Agree. Trying L@.89 in anticipation of a last hour bounce. Anticipation always a dangerous game of course. :) Now it falls to 96. :)
Closed @.19. May reenter.
 
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