The Surf Report--part 2

[Grandluxe]

Wakey Wakey, rise and shine.

 

[veritas007]

I'm still short gold.

 

[EPrado]

Quote from marketsurfer:

Whoa, I was completely wrong on the direction of the SP move. Closed out shorts , gone flat and going back to sleep. Remaining short gold for now.

Surf

At least you covered at 1316 or so. Is 10 handles higher now.

 

[Spooz Top]

Quote from volente_00:

Ask Vic about it



I know you are not a fan of TA surf but the IHS on the monthly does not bode well for your short position.

IHS all over the dailys & monthlys...freight train setups that have us sitting right on necklines like a peruvian necktie for those looking to put on their shorts.

 

[veritas007]

what is an IHS?

 

[Rodney King]

Quote from veritas007:

what is a IHS?

I guess he's Christian?... http://www.jesuswalk.com/christian-symbols/ihs.htm

 

[veritas007]

Quote from Rodney King:

I guess he's Christian?... http://www.jesuswalk.com/christian-symbols/ihs.htm

I guess Jesus is really coming back May 21st. http://www.msnbc.msn.com/id/40885541/ns/us_news-life/

His return probably won't be good for asset markets.

 

[Banjo]

Inverse Head and Shoulders pattern.
Just noticed his thread again, ouch surf.

 

[marketsurfer]

SURF ALERT


Noting unusual situation in oil. Short QM at 12.75.


Surf

 

[Neenisti]

Quote from marketsurfer:

SURF ALERT


Noting unusual situation in oil. Short QM at 12.75.


Surf

First if I could offer a suggestion, trade the full crude contract not the QM. The liquidity in the QM contract is pathetic. I don't know anyone anymore that trades it since the margins are the same. Risk reward is so much better in the CL.

Yes, technically that is called the potential of a top forming. The key word there is potential. In the CL, if 114.05 isn't taken out we could see a fall to 105.31, 102.70 or 96.22 in the near term. That being said, I'm long @ 107.00 (June Contract) since the morning of the 14th with a current trailing profit stop at 111.00.