Sim Acct =========== trade#5. ---------- Entry : short 104.95, lots 2 , 03-22-11 12:53 PM STOP: 106.17 Target: 104.00 trade#4. ---------------- Entry : short 104.25 , lots 2 stop:105.11 Exit: STOPPED 105.11 Profit/loss: 104.25 - 105.11 = .86 => $1720 ( loss ) Missed profit move: 25 ticks ( when it moved to 104.00 )
Thanks for looking that up. I was trying to remember EON Kid's comment along the lines that the higher it goes the more it kills its own momentum. How was it you put that, Kid?
This chart explains why OIL has a BASE LINE of $85 on monthly close basis with continual increased oil demand from china year after year. - add $7 for improving economies world wide ( from down turn ) , makes it $92 - add $10 Middle east unrest premium , makes it $102 ( in yesterday news post as Goldman agreed with our CL Redux forum on this one )
I mentioned this a couple of weeks ago. I hope that if it does go back up to $120 or higher that the government doesn't get involved in trying to restrict our trading by blaming the increase on us "speculators". ADD There are risk premiums built into lots of markets. I think the markets take care of themselves. They didn't need to try to regulate the valuations of internet companies in the late 90's, and their valuations took care of themselves. I realize this is a core commodity, but I still think it will regulate itself. It would serve that arrogant OPEC guy if they drove it back down to $25. Wishful thinking.
this must be it. At $130 crude started to see some serious demand destruction, if I remember correctly in 2008, of course anything above 100 is hurting the economy In early July 2008 was the peak at $147.90 the indexes were going up in that first pull back till mid May 2008 when oil hit $125 mark then the divergence started till July 2008 & they both fell off a cliff
Yeah that's it. Really well put I thought. Summed it all up. "Of course higher crude may carry the seeds of its own destruction. " We'll see what happens here. I think the OPEC guy with his $120 is no problem comment is dreaming. But market wasn't fazed that much today with $105.
as we are day trading here , for big FUNDS I guess trading in /out on a weekly basis is their day trading . as we are going long/short on daily basis , these big FUNDS are doing on weekly basis as events unfold and I guess they STOP BOTHERING about what is going to happen to prices months from NOW ...
completely forgot about this expiry , this seems has a factor in today's upside. - Think about it , it is the price you are settling to deliver next month this time , sure you want to sell it to high price , given middle east unrest going on .. Crude for April delivery (CLJ11 104.48, +2.15, +2.10%) , the front-month contract that expired at the end of floor trading Tuesday, added $1.67, or 1.6%, to $104 a barrel on the New York Mercantile Exchange.
Today was all about the trend once the failed final flag was put in on a break to key level 102.12 that quickly found support. Once that occurred, I had some counter-trend shorts that were pretty much a struggle, but the longs had some serious tailwinds behind them. I had one losing long trade today. I'm almost certain I purchased the position from Schizo right around 1:00pm eastern time. I know Schiz feels the pain of having taken my money, but he'll be pleased to know I flipped short @ .20 and managed to scalp back my loss
The rally that occurred on nil volume in the last few days was absolutely disgusting. I dunno how they could get away with that. Be that as it may, I'm of the opinion that the bulls should trip and fall just below 110.