hehe we'll see....it does seem ridiculous how it just keeps going up, but then again thats just what it seems to do!
nodoji, 20MA is 20minutes moving average? do you think which one (9,20, 30,60) make you feel best in day trading? since I never used MA, just use trendline to find direction, I saw in lots of your postings use 20MA to define trend or turn. I thought MA is a little bit delayed in direction finding, do you feel that way?
I use a 20-period (20-bar) MA, so if I change the time frame of my chart, it adjusts to that time increment. I'm trading off a 5-min chart with cross-reference to the 3-min chart in a strong trend. In a trend where price actually pulls back to the 20-bar MA, it nearly mirrors the trend line, and also nearly mirrors stochastics becoming overbought/oversold. It's definitely delayed for picking an early entry off a reversal signal (first lower high or higher low after 3 or more legs in a trend), but I don't use it for that.
Actually, I agree with you. Once the 52-week high is taken out, there will be a feeding frenzy among the johnny-come-latelies. Depending on the strength of the breakout, I'll most likely flip long.
The Euro is not done yet. If Euro turns negative, one of the CL pillars is removed. Then CL has to find support from equity or the BP leak. Not sure if CL can take out the high and stay that high, for now.