As the day goes on if we break out of this 5 min down trend and past 103.40 I would think 105 would be the next area of resistance so that order I had at .735 or whatever it was wouldn't make sense now. Ya can either try shorting at the top of this micro trend short or at 103.40 or do nothing oh yeah or buy the break of the micro trend and cover at .40 or trail a stop if you think it will break out above .40. Take your pick! I see these bull flags or whatever they are called it seems like everyday and then it either makes a double top or breaks out to new highs.
From a fundamental point, although as I mentioned a week or so ago there are many fundamentals, it seems that it would take some strong new Middle East type news to drive this a lot higher. Seems kind of toppy to me. But having said that, you can all quote my post here when we hit 114 again.
since the whole market looks bullish I'm watching for the Measured move targets on the indexes http://www.elitetrader.com/vb/attachment.php?s=&postid=3397029 DJIA 12800 SPX 1310, see how far it carries the CL
Yeah we'll see. Of course with CL it's like it accepts a ride in one of the indicies' cars and then all of a sudden opens the door and jumps out and starts running the other way just because it can if it wants to. And the other thing, which many forget, is it's really tied to what's up with DX, the Once Mighty Green Back.
Yes, I have been having this problem with CL. What I try to do to get my charts to work is to switch between use 24/7 use default for data source.
What Is The Most Dangerous Job in Iran? Wednesday, January 11, 2012 By Phil Flynn These days it is probably being a nuclear scientist. Once again an Iranian nuclear scientist was blown to smithereens. Now despite what you might think this had nothing to do a nuclear experiment gone bad, no it really has a lot to do with a bomb mysteriously placed below a Peugeot 405. It seems that nuclear scientists in Iran have some pretty cool cars. The nuclear scientist worked at the Natanz uranium enrichment facility before he met with his unfortunate demise. Natanz of course is said to have 8,000 centrifuges in operation and according to reports is one of two facilities that are enriching uranium in the country. The other is the underground facility of Qom that Iran denied ever existed until of course it had been discovered. In January of 2010 an Iranian university professor and nuclear scientist Massoud Ali Mohammadi was killed when his car blew up. Then in November 2010, nuclear scientist Majid Shahriari was killed in a similar fashion. Kind of make you think of changing professions now does it not. Iran is blaming Israel and the U.S. They are also blaming them for a series of cyber attacks on the computers in their nuclear facilities. Maybe it is an attack or maybe they just have Windows Vista. OIL MARKET REACTION This news gave oil a boost where already Iran is looking to try to hang onto their customers and ensure customer loyalty. According to Bloomberg News Iran cut the price of crude supplies loading in February to Asia relative to benchmark levels, quoting an official at National Iranian Oil Co. NIOC lowered Iranian Light exports to a premium of $2.26 a barrel above the average of Dubai and Oman oil, said the official, who asked not to be named, citing company policy. That compares with $4.36 for January. SUPPLY ISSUES In Nigeria supply could be cut as Nigeria's two oil workers' unions said that they might totally shut down Nigerian crude production as a nationwide strike over the removal of fuel subsidies in that country are causing allot of pain. Nigeria exports more than two million barrels of light sweet crude oil per day and might be hard to replace if Iran oil is lost. VOLATILITY CONTINUES Still oil is subject to the massive mood swings surrounding the progress, or the lack thereof, coming out of Europe. Yesterday all seemed well on the European front as the euro soared and the dollar fell. Of course, that seemed to change as if someone asked if anything was really accomplished. http://www.sfomag.com/SFODaily/Energy-SFO_Daily__What_Is_The_Most_Dangerous_Job_in_Iran__-sd500.aspx
This isn't looking good for the ole' bear didn't even tangle with .40 let alone .20 which is what I was looking for. If we don't fill in this 15 min tail I'll be leaning long.
to make matters worse I got out of coffee at 227 I thought I was the man at the time. Oh well I'll go slap the kid around and then I'll feel better