SHORT oil @$125.55 and up

Grandeur · May 21, 2008

Quote from Landis82:

Trading off of an "overbought/oversold" oscillator is a sure fire way to the poor house.

You need to first IDENTIFY the TREND before using such an indicator.

Being overbought in a Bull Market is extremely BULLISH. Vice-versa with being oversold in a Bear Market.

If it was overbought at 128+ . . . . . Just wondering what is going on with everyone's short.

Wrongside · May 21, 2008

I do not wish ill on anyone, but if one feels the need to post his trades for the entire board to read, one should follow through whether the result is good or bad.

Wrongside · May 21, 2008

Quote from Wrongside:

I do not wish ill on anyone, but if one feels the need to post his trades for the entire board to read, one should follow through whether the result is good or bad.

That being said, where are the shorts?

Grandeur · May 21, 2008

Quote from Wrongside:

That being said, where are the shorts?

Drilling holes

5Pillars · May 21, 2008

Quote from Grandeur:

Very interesting strategy. $.50 cent profit targets and letting your loosers run well into a $1.00. But I am sure you will cover the rest at a profit.

No - did you forget I already had positions covered last week at +$4.00 per contract in addition to the many other scale-in and scale-outs I/A/W the method of how I trade this set up mentioned earlier in this thread.

Grandeur · May 21, 2008

Quote from 5Pillars:

No - did you forget I already had positions covered last week at +$4.00 per contract in addition to the many other scale-in and scale-outs I/A/W the method of how I trade this set up mentioned earlier in this thread.

How about your current positions?

5Pillars · May 21, 2008

Quote from 5Pillars:

I am currently short from 127.85, 128.35, and 128.85 - as stated before I had the 126.75 entries the other day hit my 126.25 targets for $.50 per contract and my 127.05 and 127.35 were covered at b/e as price hit a target ($126.25) and then rose back to a previously entered level. I will cover my lowest entry ($127.85) at 127.35 for +.$50 and hold the highest two positions as usual.

I am currently holding positions from 127.85, 128.35, and 131.50. I had a fill on a position at 130.35 that I covered at 128.85 (for +$1.50 per contract) while also covering my 128.85 previous entry at b/e. I still have a target at $127.35 to cover my lowest level and hold the highest two levels on any pullbacks. As always, I will continue to scale-out and then scale back in a small portion of my overall position on any price pullbacks and rebounds.

LT701 · May 21, 2008

Quote from 5Pillars:

I will keep trading Oil SHORT all the way up - going for the next short term pullback. Any pullback to $112.00 will be the key to watch and see if I hold for additional downside play. Had a very good CD divergence signal to get short for this last spike move in crude.

how's that working out for you?

sttrader · May 21, 2008

Covered 80% of position at 28.20 and got stopped out at breakeven on last 20%.

Shorted today at 31.70 after data, covered 80% at 31.20 and stopped out on last 20% of position at breakeven.

Have an open order to short at 32.70. If filled, will cover 80% at 32.20 and move stop to b/e.

5Pillars · May 21, 2008

Quote from LT701:

how's that working out for you?

It works out very well and is a form of what I call the "accordian" method. I am extracting profits of a small portion of the overall trade while managing the core position to play for a price pullback to a specific price target area ($112's in this case) - or "trades within a trade".