CL Redux
- Thread starter schizo
- Start date
Don't want to make it too easy by shorting this. The market is so good though, at making it impossible to commit to either direction without incurring risk (a big duh but still, I think it bears mentioning). This market has been in short mode since last night, yet the rally pre-open ensured that anyone who had protected profits and had their stops around 91.50 were taken out. Then anyone who was keen enough to short around the 91.20 area before the nice drop has had to endure a minimum 60% pullback, and even now is not out of the woods to safely move the stop below 90.80.
And on a bar-by-bar basis, most every move of 30 ticks down or up has been followed by an equal move in the same direction.
In other words, IMO, this is hard to trade, even though the direction is clearly down. That's what the market is good at though--95% of the time it offers no easy money (meaning, risk-free: that I can move my stop to B/E, or that I will receive little heat, etc.).