Coming up to 10:00 am CST. Any one have a price bias - think we've seen HOD or LOD? Anyone seeing bearish divergence?
http://www.cnn.com/2011/WORLD/africa/03/04/libya.conflict/index.html?hpt=T1 Forces disperse protesters in Libya's capital, witnesses say Tripoli, Libya (CNN) -- Security forces dispersed protesters with tear gas and rubber bullets in the Libyan capital Friday, witnesses said, in the latest of several confrontations that have convulsed the country and triggered an exodus of refugees. The confrontation happened after weekly prayers in the Tajura neighborhood in eastern Tripoli. Witnesses said flatbed trucks full of gunmen drove through the streets and used the tear gas and rubber bullets to disperse crowds. Government officials won't allow CNN into Tajura but CNN saw a heavy police and armed security presence on the outskirts of the neighborhood. Those forces were searching cars along the Corniche, a main street in the city, and were controlling routes. Protesters hoped to march from the Corniche to the center of the city but were unable to do so.
FWIW, call it classic lessons remembered. Just did a 103.54 entry with a scalp price target of 103.74. Well after an initial pullback it ran up to 103.73 and I missed the fill by 1 tick. But I let it go and hadn't moved my stop. And it pulled back and retested R2 right about where I entered. But then it bounced and I did get filled the second trip up. Wasn't shaken out of my position this time. Classic lessons remembered. Just a small scalp, but they all add up. I may post charts for both of these trades later in NoDoji's new Experienced Trader's Bloopers thread. http://www.elitetrader.com/vb/showthread.php?s=&threadid=216379
I gotta get some better filters for this type of PA. I was up several ticks, but kept trying to catch a movement. Stopped out a few.... Need to stop per risk management
Yes, we need to set things up to match the price action. It is hard now because it is so volatile. Even the indices have been volatile this morning. There are a lot of cross-current realities for the general market. Crude is high, employment is good, factory orders are up, etc. Take a break here. BBIB
Explanation, please: I was short .56 and price fell off my DOM, then I moved to lock in 20 ticks, expecting momentum through the previous pivot low and price flew back up and slipped me 12 ticks Why did price fly back up like that??? I have a need to know :eek:
Call NYMEX and see what happened. Also, I might ask, do we need to post the link to the YouTube video "Buy the F*ing Dips"? I think not. The emphasis is mine. Here's the video for those that missed it. http://www.youtube.com/watch?v=jllJ-HeErjU
SLD 100 UCO Stock 55.12 USD SMART 09:30:54 BookTrader 1.00 SLD 100 UCO Stock 55.27 USD ISLAND 09:34:01 BookTrader 1.00 shorting more and more