While I'm sure you have a point as to the storm providing some support: http://noir.bloomberg.com/apps/news?pid=20601072&sid=aYlLKgLq8DlY Also, euro is down 0.8%, but the rest of currencies are basically flat (and oil is down over 1% down, could be/should be more?, maybe). You're still in the money, though, so congrats.
I don't care what happens from now to 4:15, but today is classic day of In balance day...........a beautiful example of Market Profile, not even if we would it script it.
In market profile when market is "in balance" meaning buyers and sellers agrees with a price range, you will see a formation with a big "Belly" more horizontal, with almost no direction in vertical direction. In simple words we have a tiny Value Are, and Initial Balance, tomorrow, a break an open above 78.26 or under 77.94, could give good clues of the direction of the market. Here is the picture. If you have any other questions, please feel free to ask me.
Now that it appears that Huricane Alex is headed west and will remain south west of the main oil drilling locations, my belief is that we will see oil retreat into Tuesday/Wednesday. Based upon what I am anticipating after viewing a 1% down/flat day vs. the 2% gain last week (due to short covering after large supply numbers) it would appear that oil has to move down a little to remain in tune with the relative markets (dollar, equities, other commodities). I think we are in tune for another dip to about 77. NYCDT
Anyone feeling inclined to short at these levels? I'm looking for a rebound... only I just don't see it