I think that whoever is moving this likes the vola... so why stop now? Just some grind to frustrate people and make them let their guard down and then... WHACKA!!!
March 18, 2011, 10:12 a.m. EDT Oil turns lower on reports of Libya cease-fire Reported action follows United Nations resolution to protect civilians By Claudia Assis and Polya Lesova, MarketWatch SAN FRANCISCO (MarketWatch) â Crude-oil futures turned lower Friday after news reports that Libyaâs foreign minister had announced an immediate cease-fire in the conflict-torn North African nation. The announcement came after the United Nations Security Council approved a no-fly zone over Libya on Thursday and passed a resolution to take action to protect civilians. Light, sweet crude for April delivery (NEW:CLJ11) declined 77 cents, or 0.7%, to $100.67 a barrel on the New York Mercantile Exchange. It had traded as high as $103.66 a barrel earlier. Brent for May delivery retreated 61 cents, or 0.5%, to $114.04 a barrel on ICE Futures in London. U.K. Prime Minister David Cameron said earlier Friday that preparations were under way to deploy British fighter jets as part of moves to enforce the U.N. Security Councilâs resolution on Libya. Late Thursday, the council authorized âall necessary measures to protect civiliansâ under threat of attack in Libya, including in the rebel-controlled city of Benghazi. Oil markets were also being influenced by the situation in Japan, in the wake of the 9.0-magnitude earthquake and tsunami that hit the country last week, sparking a nuclear crisis. Efforts to contain the nuclear disaster continued Friday, centering on attempts to connect unstable nuclear reactors at the Fukushima Daiichi nuclear plant to external power sources, in order to conduct cooling operations. Read more about Japanâs nuclear crisis response. Analysts at Nomura said reconstruction activities in Japan following the earthquake are likely to boost oil demand, given the extent of infrastructure damage. âOil demand will increase in the near term, as oil power generators are used in Japan as swing producers. The increase should counteract any immediate demand shortfall,â they said in a research note Friday. âWe do not expect a significant drop in oil demand in the country following the disaster and, depending on the extent of infrastructure damage, we see potential for a year-on-year increase in oil demand in the coming year,â the analysts said. Energy products and natural gas followed oilâs reversal. Gasoline for April delivery (NEW:RBJ11) retreated 2 cents, or 0.5%, to $3.94 a gallon. April heating oil (NEW:HOJ11) lost 3 cents, or 1.2%, to $3.03 a gallon. Natural gas for April delivery (NEW:NGJ11) was down 1 cent, or 0.5%, to $4.14 per million British thermal units. The contract on Thursday gained 5.6%, its biggest one-day percentage gain since July and, at $4.16 per million Btus, its highest settlement since February 4
Yawn. While we're waiting for some action............... For my UCSB buddies, I knew UCSB may be having a slight problem in their game against Florida in the NCAAA Tournament yesterday when the score went to Florida 33, UCSB 13. I was hoping they were just sandbagging it to make Florida overconfident. They ended up losing 79 to 51.
Damn! Long .88 widened the stop to .64, tsk, tsk... and stop to be at .88 Lucky this time, but bad move, a bit ashamed of myself In my discharge, I must say it's the German girl's fault for getting into my head and forcing me to change my travel plans Target .80-ish (open/close), unless das Kid has a better idea :37 Come on, baby, clear that .34 and we're there! :40 Am I letting my winner run or am I letting my profits run AWAY...? Arrrrghh!!!! I know the market doesn't give a crap about me, but my self-esteem could really use a winning trade :eek: :44 will add at .37 :45 stop trailed to .93 (like it's going to make a difference) :47 stop trailed to .05... ffff... :48 Break, break, break!!! Come on guys, some cheering, please! :50 stop trailed to .12 and stop-limit (+.02) to add at .37 :52 stop trailed to .17 :51 stopped out at .17, damn... but to be expected considering I was getting antsy... +29 ticks (+260 USD rolling today so far)
so you want to add on a break out, when the market has shown no real strength on this leg, You should have a totally different game plan for this scenario (not saying longs are a bad idea)