CL Redux

[BCE]

L@.18 with b/e stop.

 

[JoshDance]

Quote from JoshDance:

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

I hate giving up on this but I'm out at .18 on the rebound back up, was hoping for more than 17 on this and it looks more bullish than bearish, but when I closed the volume picture looked a bit bleak for a big huge move up, so I'm out.

 

[BCE]

Quote from BCE:

L@.18 with b/e stop.

Ditto.

 

[BCE]

Quote from BCE:

Ditto.

Maybe 3 times was the charm, but I'm out. b/e on both.

 

[BCE]

Quote from JoshDance:

I hate giving up on this but I'm out at .18 on the rebound back up, was hoping for more than 17 on this and it looks more bullish than bearish, but when I closed the volume picture looked a bit bleak for a big huge move up, so I'm out.

You did okay. Nice trade. We should have flipped it maybe. BBIS

 

[JoshDance]

I will short .90 and look for .85 and then .80 to break with conviction,

 

[BCE]

Too weird for me here. Too many head fake failed rallies. Maybe it makes a big move any second. We'll see.

ADD: "Maybe it makes a big move any second." Did while I was posting.

 

[JoshDance]

Quote from JoshDance:

I will short .90 and look for .85 and then .80 to break with conviction,

I am out at .67 for +23. Too reluctant to sell this for me to give it back. Odds favor down but my target was .52, so I will not risk 23 to possibly gain 15 more.

 

[BCE]

Quote from JoshDance:

I am out at .67 for +23. Too reluctant to sell this for me to give it back. Odds favor down but my target was .52, so I will not risk 23 to possibly gain 15 more.

Very good. Really nice. WTG.

July 27, 2011, 2:00 p.m. EDT

Growth slows as labor markets 'soft': Beige Book

WASHINGTON (MarketWatch) -- Soft labor markets and weak real estate offset a slight boost to consumer spending and an encouraging start to the tourism season, the Federal Reserve reported Wednesday in its Beige Book of anecdotal evidence on the U.S. economy. The Beige Book, which is based on information collected on or before July 15, said growth has slowed in majority of districts, particularly those nearest the Atlantic seaboard, with the Minneapolis district hurt by the now-concluded state government shutdown. That represents a slightly worse result than the June 8 Beige Book, when seven districts grew at a steady pace.

 

[BCE]

Quote from JoshDance:

I am out at .67 for +23. Too reluctant to sell this for me to give it back. Odds favor down but my target was .52, so I will not risk 23 to possibly gain 15 more.

Even though your target was hit, I agree you did the right thing by taking what was there and not letting it possibly retrace.

ADD: Nice call on the selloff.