Oil spiked over 5% in nearly 90degrees vertical spike at end of day friday based on the thought that opec was gna cut outut over weekend! And dow done a nearly 2000points rally in 5days straight, making new world record!! Who here isnt selling the fuk outta both of them from as soon as you are able to get your trade in???! Cm on, there must be a coupe of pin-heads here somewhere......
Oooh oil already crashed 200ticks ($2s) in 1st hour of trading in asia!! And dow is already down 80points
Charts are showing energy stocks basing. moving averages are converging on the weekly. Technically energy stocks look like they are ready to start rallying at any time. Let's see what pans out.
Then again economic news this week is so cruddy that oil could easily keep crapping all over itself like it did today. Fridays numbers will be fugly at best. That could crush energy stocks even more, like they havn't been insanely obliterated already.
LOL My stoplosses range from 24ticks to over 1000ticks somedays when the market suits it at that size!! For example if i see oil has spiked 16% in 2days straight, its obvious its going tohave to have apullback, in the 50year oil chart theres never been a huge spike that didnt have a pullback! So if would whack on my sell heavily at the top, but put my stoploss as far away as possible to make sure there was no chance of it getting hit! Since price is just a rubber band, harder you pull it the harder it snaps back. So notehrs with tight stoplosses would be losing moeny if it had a little 1% - 3% even more rise, id be loving it cos it means pullback snap would be faster n harder + i could add few more sells at better price! (Been trading day in, day out, for a long long time now, and so i do know how to make money consistently mate) But other trades when i see market starting to trend down for the day i get in while market is near top of trend, use the minimum stoploss available (24ticks after spread), and just keep lowering my stoploss the further market falls in my favour. And thanks jakker. It was an extremely easy move to see was about to happen though... Im just so so gutted i didnt get so much more of it though!! Ahhh well, can go long on oil from its low today atleast