The Surf Report

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happy new year, surf report readers! i was sleeping by 11pm and missed the fireworks......


the age old question of all speculators, "am i wrong or am i early?" played out this month with losses in the YM trade. 2007 was a year of consistent losses, punctuated with several sharp gains and another succesful longer term foray in oil.

presently short across the board----


best wishes for 2008!

surf
 
Quote from JSSPMK:

Histogram says Long (-288)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1725296>
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1 win/2 loss

Next was short from today's open based on histogram

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1733773>
 

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call was made based on the WTIC index---the instrument traded is up to the reader.


suggest holding oil shorts here, believe, with conviction, long term top is in.

the death channel for YMH8 is presently 12963---12897---

expecting a nice long daytrade opp here soon--but short if lower channel line snaps. suggest entering upon breakage of 12963---but close by EOD in my opinion. if short entered, suggest holding over weekend.


regards,

surf
 
nice call on crude
i believe it will touch 94 within next 2 days and i m pretty much sure we'll see a build up in inventories this wednesday
 
Surf,

May I ask why you have not identified the contract month for your crude short, and why you have ignored JSSPMK's question in this regard?
 
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