CL Redux

Not sure about the FOMC. But that was a great play on those puts. WTG.

 

Absolutely! Eight winning shorts for me and out of my 3 longs, one winner and two losers. That tells the story. Shorting those lows is like taking candy from a baby.

 

out at .95 to scared

 

There's also the Auto and Truck sales report at 3 PM. We'll see what effect that will have if any.

 

The contract looks scared too.

 

Trumpet flare! Drum roll!

 

DXH11 Up a bit.

http://www.barchart.com/chart.php?sym=DXH11&t=CANDLE&size=L&v=2&g=1&p=I:5&qb=1&style=technical

 

I traded badly but still made back the losses. Went short but it was a chase and got stopped out on CL. Then went long, and got stopped out. Went short on ES, got stopped out for 1 point.

Finally went long on CL but did not wait for confirmation of my indicator. I set a very wide stop and also went long on ES. My thought was that market had put in a reversal. Was down 26 ticks at one point on CL on this trade, but it finally hit my target and so did ES, so I ended up slightly positive. Next time I need the patience to wait for confirmation.

 

Glad you got your money back and learned a few things.

 

FOMC

http://www.marketwatch.com/story/fed-borrows-white-house-method-to-judge-qe2-2011-01-04