Spanish89- Opportunist Trades (2nd journal)
- Thread starter spanish89
- Start date
Just added an extra sell to oil at 96.88,
average sell price is now 95.91, target is 95.23 (although i dont have any issue cashing in before then),
and going to try getting out of my S&P trade at around the 1223 level if it goes back there. :/
There is something very wierd going on in this market that just isn't normal,
im not into conspiracy theories however this seems extremely like central bank intervention in the markets,
as vertical spikes that big out of nowhere and based on nothing just are too illogical!
And so i want out asap
average sell price is now 95.91, target is 95.23 (although i dont have any issue cashing in before then),
and going to try getting out of my S&P trade at around the 1223 level if it goes back there. :/
There is something very wierd going on in this market that just isn't normal,
im not into conspiracy theories however this seems extremely like central bank intervention in the markets,
as vertical spikes that big out of nowhere and based on nothing just are too illogical!
And so i want out asap
Quote from pauk:
you still in the oil short?
It's gone a bit loopy
Sadly yes..
The market is moving ridiculously bullishly,
however its merely due to central governments intervening like the ECB buying italian bonds so extremely hard to force the yield and then indicies markets down.
Im just going to ride out this rough patch, as a 4-5% crash in every market on 1day based on fear and panic of italy,
just to have all that fear magically evaporate into thin air the next day,
just doesn't last for long.
My oil target is 95.52, and s&p target now 1,221
Quote from spanish89:
There is some seriously wierd fucked up shit going on in this market right now!! :eek:
S&P has just spiked 10points in a vertical line,
oil has jumped from 95.30s upto above $96....
why is that weird?!!
because you didn't expect it or it doesn't comply with your dogmatic approach to being right all the time!
It makes perfect sense to me.
Averaging down price... now that's a sign of a great trader. What if it hits 100+ first before having a key reversal. what possible basis is there for averaging the short unless there is some articulable reason. What is that reason?? Are you doing it on fundamentals???! lol
why didn't you reverse and go long.
Crude trades in a range, it was $80-$90 since last couple of months. The current breakout has no fundamental backing and due to European Economic situation, a rally can never be sustained. Yes it will touch $99 and probably $100 too due to technical reasons but reversing and going long on $98, on the top? You got to be kidding me. If he has sufficient balance, there is no reason to panic though I agree, adding to a losing position that too near the opening trade price isnt a good idea
Reversing and going long when the counter-trend pullback short trigger the other day found support, and successfully confirmed that support, at the shallowest pullback level (94.60 zone) makes perfect sense for a swing trader. That's a sign extreme strength and that's where the bulls added to their winners for the next push up, which has already run nearly 4 points from that support level.