5% - 10% profit per day trading

The S&P and the Dow seem to be topping out now. I think oil may follow suit and not go above 60.00. What do you guys think about their correlation? For a while I though it was broken, but they still seem to follow each other closely still.

 

It seems we are headed lower from these 5700 level , any thoughts Usman

 

as long as 5610 support is held there are always chances of bouncing back up.

 

long 57.40. 20c stop.

 

reentered long at same point as stop. it feels like 58 is coming up shortly.

 

looks like we're going to retrace just a bit from intraday high of 57.75 before breaking it.


>> ok guess not. i'm already out so now i have to wait...

 

Short 58.00, 10c stop. if we drop i'm going to set stop to breakeven and hold on.

reversed at 57.75, small long now. i think this is going higher than 58.

 

small short into after hours, 58.45.

>> crap, too soon

 

Since pretty much all the small traders are stopped out yesterday and today morning , the big guys pulled the price to 5900 .
there is no real money required to pull up to 5900 , there is not real buyers from small trader community.
now when small guys who are stopped out wanted to buy oil , it is high price.
of course equity market up little bit helped , but it seems the game played from big player standard play book.

 

short 58.20, stop 58.35. if today's a down day, this is prob a good place to get in.

>> stopped out