CL Redux

trying a short today, 86.00 on the QM. stop is 86.35, will try my best to hold this for more than a day.

 

I like the trade, however I think the stop may be hit, especially if CL follows the indexes higher

 

Indexes might be done EK. DT w/yesterday and big gap below left over from Friday.

Good trading all.

T

 

I still think ES 1200 is a target, there is also the Slovak parliament vote on the ESFS, 6E, may be a non issue

 

Tuesday, 11 Oct 2011

lots of computer prbs today.
price is approaching the high and looks to push past it towards 86.60
60 min - top not yet in -- Wednesday?
30 min - top in a couple of hours

order to sell at 86.10

 

CL 11-11 Sell 1 86.00 10/11/2011 12:39:37 PM

 

as long as 85.75 holds next 20 mins, short squeeze play is on.

 

I am currently having doubts about the analysis in my post.
ES will not top unless 6E gives it up, which is not looking too likely at the moment.

 

86.60 next, with 86.20 as support

 

Nice call. But Why short squeeze and not trend cont.?

If just a squeeze we should fall back below 86.00, shouldn't we?