well we survived breaking yesterday's low, hopefully this is a hard bounce up. come on now! >> ok spanny, we should probably get working on that system now...
final 10 minutes of trading on a friday after a bumpy week. i think only jesus can tell us where we're headed. >> wow can you say stop hunting. was way too slow to pick that bottom. another crazy frustrating week in oil. seriously what the hell is going on.
reasons i see for today pull down 1) in the bad inflation news these days equities usually close down on friday closes , so oil guys do not see ES coming to 900 today 2) after yesterday runup , small invesots bought so do stop hunt 3) yesterday memory high at close and weekend typical up typical bounce is in people memory , so counter it 4) JUNE contract is going to close in few days, so actual commercial physical delivery guys ( oil companies ) are the once who will be buying this last week ( or selling if they bought heavy already ) . It seems thes guys may not be so bullish buying at high level to take delivary
@oil prince yeah, no kidding... last month's oil was wonderful to trade. i still haven't figured out what's different about this month, but the rules have definitely changed. have downsized my trading since last week until i can start making money again. and... who are you?
moved stops to b/e. and here's my eternal dilemma. take profit now, or will we have a bull run today? >> out at 58.95, just can't let any profits slip into b/e anymore