CL Redux

Discussion in 'Journals' started by schizo, Oct 9, 2009.

  1. EON Kid

    EON Kid

    #8101     Jun 21, 2010
  2. Don't you guys just trade price action anyway? If you had a good looking setup contrary to your interpretation of the fundamentals, would you pass it up?
     
    #8102     Jun 21, 2010
  3. Yes, but its some news that you just can't ignore.
     
    #8103     Jun 21, 2010
  4. So if the news says one thing and price action strongly says something else, to which would you yield?
     
    #8104     Jun 21, 2010
  5. schizo

    schizo

    Price, since everything is already priced in (so I'm told).
     
    #8105     Jun 21, 2010
  6. Technicals
     
    #8106     Jun 21, 2010
  7. I am inclined to agree. So then, while talk about fundamentals is interesting and makes us all feel important, knowledgeable and clued in, is it not somewhat superfluous, especially for the holding periods under consideration in this thread? (Just being the fly in the ointment. :D )

    P.S. I don't think everything is always, entirely and immediately priced in, because if it were, then markets would be completely efficient. My understanding is that traders rely on market inefficiencies.
     
    #8107     Jun 21, 2010
  8. market pyschology of the moment is never priced in, people knew the greeks were going to protest ahead of time, it wasn`t till the pictures of the riots happened on tv, that the shorts took advantage.

    While everybody is discussing slower growth in europe overnight, shorts in europe at 2:30 am will be shorting cl down--its the game.
     
    #8108     Jun 21, 2010
  9. are you guys trading the August contract ? or still with july ?
     
    #8109     Jun 21, 2010
  10. cstfx

    cstfx

    Wow! Can't turn your back on this b*tch for a moment!
     
    #8110     Jun 21, 2010