CL Redux

JoshDance · Sep 7, 2011

Quote from mfbreakout:

now safe entry for longs for me is 89.10 area unless , i want to place wide stop loss

Just curious why .10? I see that it's basically the retest of the pennant breakout, but any other reason? I was thinking .05 -- it's today's VPOC and I might have even guessed 89.00 would be in play.

mfbreakout · Sep 7, 2011

Quote from mfbreakout:

yes, Don, when it broke 89.40 after 1 hour of song and dance, it should have been defended on pull back.

but if it clears 89.50 , bears will throw in. They been chopped to death all day.

mfbreakout · Sep 7, 2011

Quote from JoshDance:

Just curious why .10? I see that it's basically the retest of the pennant breakout, but any other reason? I was thinking .05 -- it's today's VPOC and I might have even guessed 89.00 would be in play.

could have been either 89, 89.05 etc.. 89.14 was the level where 2092 cars on the buy showed up on push to 89.53, so that's a reference point i was using.

DonCorleone · Sep 7, 2011

possibly a 3 drive down on 5 min.

mfbreakout · Sep 7, 2011

Quote from JoshDance:

Just curious why .10? I see that it's basically the retest of the pennant breakout, but any other reason? I was thinking .05 -- it's today's VPOC and I might have even guessed 89.00 would be in play.

here is the chart

http://www.screencast.com/t/3Z3UfOlvic

mfbreakout · Sep 7, 2011

Quote from mfbreakout:

here is the chart

http://www.screencast.com/t/3Z3UfOlvic

technically 89.50 level is short. missed it

mfbreakout · Sep 7, 2011

Quote from mfbreakout:

technically 89.50 level is short. missed it

As Jim dalton would say, overnight inventory was long and the market answered the call right from the open.

mfbreakout · Sep 7, 2011

Quote from mfbreakout:

As Jim dalton would say, overnight inventory was long and the market answered the call right from the open.

they are defending 89 level like its their motherland. out 89.32.flat. do not want to sit and guess if 89.50 will be taken out.

mfbreakout · Sep 7, 2011

Quote from mfbreakout:

they are defending 89 level like its their motherland. out 89.32.flat. do not want to sit and guess if 89.50 will be taken out.

short 89.38 stop loss 89.51

mfbreakout · Sep 7, 2011

Quote from mfbreakout:

short 89.38 stop loss 89.51

stopped out. long 89.51