My indicators stopped working for the day. I was going to gone long CL it was going up, but was waiting for my indicator. I gave up waiting and got in to late and stopped out for 8 ticks. I then shorted, was green then it started to go back on me, and I got out for 6 ticks of profit. If I just used price action, I would have done better today. On ES I decided to set limit orders to both buy and sell it. None were hit, so basically a BE kind of day, but better than over trading.
That was the most ridiculous shit i have ever seen!! Brent traded at 119.79!! WTI @ 103.40. The WTI-Brent spread was all over the place!!
one minute candles are 50 ticks each, lol. gotta love it. anyone else awake watching and trading this thing?
Jesus christ, we just printed a high of 103.41. Just read a report that rebels are closing in on Tripoli, they're going to give it to all the shorts before this falls eh?
Ya, I think that huge ass green candle certainly gave it to the shorts, lol. indicies not looking happy right now. I'm actually kind of surprised at the relatively low volume of the 100.00 break. Big for afterhours, but not as much as I thought it would be. The insanity didn't start until 101.00 was breached.
Analysis: Revolt in Libya likely to scar its oil sector http://www.reuters.com/article/2011/02/23/us-oil-libya-disruption-idUSTRE71M16M20110223 - An estimated 300,000 to 400,000 barrels per day (bpd) of Libya's 1.6 million bpd of production has been halted, as companies evacuate staff and suspend operations, according to the latest Reuters calculations. - Much of the country's oil industry is run by foreign firms including Eni and Repsol, while Libya's National Oil Corporation (NOC) has traditionally been tightly controlled by Gaddafi. - Libyan strongman Muammar Gaddafi defiantly pledged on Tuesday to stay in power at any cost, threatening to have protesters hunted down and killed "house by house." - With rival factions already laying claim to an oil-rich swath of eastern Libya, separated by hundreds of miles of desert from capital Tripoli in the west, the country could even face civil war, analysts warned. YEARS TO BOUNCE BACK In OPEC countries where oil infrastructure is the ultimate key to power and purse strings, war and other major political crises have typically resulted in supply disruptions that take years or decades to bounce back from. Iran's 1979 revolution cut the country's output by more than half, and production never recovered fully. Iraq's 1990 invasion of Kuwait ultimately slashed output in both countries for years, and ravaged Kuwaiti oil wells. Venezuela's massive oil industry strike of 2002 crippled production, which has never returned to pre-strike levels.