I needed some money now though mate, cant afford to wait a few weeks more for it. And the style that i trade in there can often be a long long wait for the next opportunity that id be willing to take. I do feel that if we cn jst get 1bit of bad news from something somehwere tomorrow oil could break down to the 57.86 level wher ei can buy and hold it for 2days.
Ok ive looked at oil chart just now and theres nothing especially alluring going on. Im not a mug and so i have no interest at all in selling it after whats happened last week, and the fact that there hasn't been a proper bounce back yet, so means that the bounce back to the 63 level that i mentioned on friday is coming soon. However im also not a tramp and so im not going to be buying it at this $60 level when its been in the 58s for the last few few days. So the only level that i have any interest in at all today is seeing this fall down to 57.86 or 57.26 on the oil inventory number. And that fall will have to be a staggered fall, with about $1 drop in the 1st few seconds, and then the next 2t3dollars of the fall coming as it trend down through the next 3hours into the close. Any other pattern of fall and i lose all interest, and i have no interest on buying as the number breaks no matter how many millions drawdown it may be! However if we can gte a nice build in inventories that send oil down sharply and then trickles it down a few more dollars into the close to the 57.86 level or lower and il have extreme interest in buying it there with a 59.62 target level. And especially if dow doenst flop or crash today il be extra hapy to buy. What levels is everyone else looking to trade it at today though??
Ok well i didnt trade today as i slept it all out again.. (Am really loving being able to have 16hours sleep per day) lol But im still holding by that 63.26 level, not sure if it will manage to get there by tomorrow, or it will take next monday/tuesday before it manages to touch. I dont particularly care when it reaches that level those as i have aboslutely no interest in selling there, and so i know that im in for a long wait for atleast 6days before i will be making my next trade. Since between here and where i am willing to make my next trade theres are no levels that are worth trading at. The next and ONLY level that im interested and willing to trade at or below is 52.86. For me to be willing to buy there i need to see this preferably reach the 63.62 over the next 1-2days, and then fall from there for roughly 5-6days, without any big rebound bounces or pullbacks as it falls, down to 52.86. Providing that happens i will be extremely interested in buying hard there, and my target for that trade will be 56.67. (So a big big target of nearly $4s, but i am going to try holding it for that, although i will have to drop some of the size after im 2dollars in profit). Ive attached a chart to show what i mean and why i want those levels.
woah!! what an oil move! I bet some of you guys have made some serious money today! Ill catch up on the thread later. You in it spanish? I totally missed it but have had a very nice day on the ES. Good trading
Ooooh i just looked and saw that news spike... Its quite nice to see, and i also notice that it confirmed my 63.26 level that i called 4days ago, as being strong resistance. anyone made any money off it??
had a free promotional £100 in etx silver account. dont like silver account at all compared to the normal 'green' one, but i deicded to use the free £100 and try making £100 cash today from this dow. to trade longer than the daily cash you needed 200+ in your account, but so i sold daily dow at 8906, stoploss 8980, target 8780. i see down going down to 8637 over next few days, and today id love some bad news to trigger a sell off down 150points to my 8780 level.
US Stocks Rally On Earnings, Housing; Dow Back Over 9000 A mix of good news about profits and housing sparked a broad-based stock rally in the U.S. Thursday, with the Dow Jones Industrial Average up nearly 200 points and crossing above 9000 for the first time since January. The blue-chip average was recently up 172 points, or 2%, at 9054. AT&T rose more than 3% and 3M was up 6%. Both announced declines in second-quarter profits that were smaller than analysts expected. Microsoft was up 2.8% and American Express was up 2.7%. They are due to report after the closing bell. Earnings have largely been at the crux of the Dow's more than week-long crusade back above 9000. While the index snapped a 7-day winning streak on Wednesday, it is up more than 5% this month and has tacked on nearly 1000 points in two weeks. Should the Dow close at its current level it would mark a new high for 2009. "The early part of this rally was clearly short covering going into earnings season. The market was big-time held short and with the lack of bad news, the path of least resistance has been up," said Kevin Kruszenski, director of equity trading for KeyBanc Capital Markets. "People have been so trained to buy weakness but now they're being forced to chase their long ideas." Kruszenski notes that the market didn't retest its lows from early March during an earlier slide in June and early July has also helped. Technical-based traders have cited that higher low as a sign to buy through long-held resistance levels. So, while some were questioning whether the S&P 500 could break through 950, technical traders used that move as a signal to buy even more. Overall, the S&P 500 recently rose 22 points, or 2.3%, to 976, helped by gains in every sector. Further helping Thursday's trade, the National Association of Realtors said existing-home sales rose again in June, but prices are still down sharply compared to last year. Home resales rose by 3.6% to a 4.89 million annual rate from a revised 4.72 million in May.