Thanks, mrbochin. I figured it was a typical b/o thru high, but the fact there was barely a pause after the b/o made me wonder if news.
Rally in the EUR/USD (weaker dollar) pushes the commodities up (oil, gold, etc.). imho. Dollar is weak today versus yen and sterling, as well. I don't trade oil or forex, which means I have no idea what I'm talking about, but I do watch X stock (US steel) which seems to follow the euro. fwiw.
For those who follow the weather: storm upgraded to 70% chance of turning into hurricane. http://www.nhc.noaa.gov/gtwo_atl.shtml IMHO, this and uncertainty about the weekend meeting of the G20 will be the key drivers going into the close
Because of this reasons, I am out of the market today, to much uncertainty, it's a fotocopy of yesterday Market Profile, we haven't touch the extremes of the opening bell yet, and it's already 11 AM, seems like Bulls and Bears are really putting a fight here. Rather wait for Monday, nevergoing to forget in August of 2008, the whole market was waiting for Katrina the second, and after the storm passed the prices of Oil just collapse, so guys be careful all of you have a good weekend.
Shorted 1 unit at 77.31, standard hard stop .20, but with a view to playing it close to the vest, considering it looked bouncy Moved stop to breakeven double quick since I wasn't too happy to be entering in the middle of the value zone (I didn't get filled before in the low .40's). Failed to add to the position on the first mini-pullback to 77.15 (my first "add to the trade" zone is 15-25 ticks in the money) and then just didn't see it breaking: euro had rebounded and ES didn't seem to break (I'm told 1060-65 is buy zone for hedge funds). When the TICK hit +800 realized that chances of the move having legs were evaporating fast, so I moved the stop about 10 cents in the money and got ready to add to the position in case it did finally started breaking. Was stopped at 77.20
Welcome to the nymex casino, gentlemen place your bets. There is a 5400 minium bet at this table, sir please go over to the mini table with your pissy little 2700 dollars.