K ive looked at the chart (been the longest i havent looked at it in the last 1year) lol Wtf happend on 20th april btw?? We have bascially been in $1 t $2 ranges for entire days, with the odd fast leap jump of about $3s, then into a tight range for a few days. SO must have been extemely annoying to trade. lol The next support on the way down is 47.86, and i want to see dow fall down to the 7368 area too. Looking at the chart my buy orders for tomorrow are going to be- 45.86, and a 2nd smaller buy order at 43.62.
0) The dollar was weaker across the board. Treasury prices were little changed. Oil futures were off slightly near $49 a barrel in New York. Gold climbed back above $900 an ounce. 1) Apple and Ebay results are good on positive side 2) New economic data were also weak. New U.S. claims for state unemployment benefits rose last week and the total number of people drawing benefits surged to a record level. Initial claims for state jobless benefits grew 27,000 to 640,000 in the week ended April 18. The report was in line with analysts' expectations. 3)The National Association of Realtors reported a surprisingly large decline in sales of existing homes, with activity down 3% in March. Sales had ticked up in February, inspiring hope that one of the biggest drags on the economy and the banking system was easing. 4)Traders said the results of the stress tests also loom large, with some participants bracing for a period of swirling rumor and leaks during the lag time between Friday's private briefings and May 4's public release. "What good can come of this whole thing, I don't know," said Doreen M. Mogavero, president and chief executive of Mogavero, Lee & Co., a New York Stock Exchange member firm. As a trader, Mogavero said she would prefer to learn about the state of the banks through quarterly earnings statements, balance sheets, and other standard disclosures rather than a one-time test. --- Among financial bellwethers on Thursday, SunTrust Banks swung to a $714.8 million first-quarter loss, hurt by real-estate and mortgage investments and "recession-related costs" as it boosted reserves for bad loans. Fifth Third Bancorp also swung to a loss because of provisions for loan losses. Regional banks are in a worse position than their Wall Street rivals at this stage in the recession because they depend on mortgage and commercial lending and credit quality, said Jeff Morris, vice president at Standard Life Investments. The government efforts to gin up securitization markets and offer leeway on "mark-to-market" accounting is little help to these banks.
What levels is everyone else going to be looking at to buy tomorrow though?? and anyone have any views about my order entry level??
hey span, good to see you're still around. i try not to look into the future too much with oil because it seems to be a slave to stocks right now. and stocks are getting to be choppy. i'm getting scared from 1:30pm to 2:30pm, and tend to stay out of it now. i think it's for the better because this time always tricks the hell out of me. i'm going to only trade the last hour by catching a retrace on a crazy move.
No. The front contract has been selling of at expiry for 6 months now due to the over supply of the WTI delivery terminal.