lilitulip wrote:Good morning Cobra, can you take a look SOX? is it bear flag broke down? and what do you expect the target is? thanks a lot
you mean daily? it's not bear flag. the chart is hard to say now.
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Anaconda wrote:
You're a braver man than I on oil. I'm holding tight on my shorts. Dollar will continue to cave under current European conditions, I think. This can't help oil in any way... Demand down. Futures contract prices are laughably high, given demand and current inventories. Beware, friend. Going long could be deadly here. GL, regardless.
A
I agree but last weeks inventory report was mildly bullish. Soverigns won't let the euro fall too much.Overall i 'feel' exactly what you're saying re: crude but the technicals are telling me a different story...
nothing to say, seems QQQ leading on the downside now.
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agnosia wrote:man on man, last nights /es was the most volatile i've ever seen.... very thin markets, crazy moves... i covered my short in /cl and my model is about to give a buy signal...
I was awake when JP earthquake happened, much more volatile than last night. I did not place stop order that time, huge loss in seconds.
damn. nowadays i should seriously thinking of trading 24 hours. it is extremely painful to miss such a huge movement last night.
not sure what's going on, maybe some mc/mn crap again. the chart seems going up, but i don't want to trade at this moment.
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Anaconda wrote:
You're a braver man than I on oil. I'm holding tight on my shorts. Dollar will continue to cave under current European conditions, I think. This can't help oil in any way... Demand down. Futures contract prices are laughably high, given demand and current inventories. Beware, friend. Going long could be deadly here. GL, regardless.
A
I agree but last weeks inventory report was mildly bullish. Soverigns won't let the euro fall too much.Overall i 'feel' exactly what you're saying re: crude but the technicals are telling me a different story...
Interesting. Same info., different interpretations...
I didn't see anything to get bullish about in the inventory report. And as for the euro, short of China buying PIIGS debt, I don't see sovereigns being able to do much to shore up the Euro. Very curious, though, to learn which technicals you're following and what they're telling you. TIA
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soku wrote:damn. nowadays i should seriously thinking of trading 24 hours. it is extremely painful to miss such a huge movement last night.
not sure what's going on, maybe some mc/mn crap again. the chart seems going up, but i don't want to trade at this moment.
This morning the EURCHF plummeted to 1.15! Central Bank bar fight. And China stepped in - more than usual - to support Italian bond market this morning.
China rumored to be asking the ECB on pricing for euroland bonds. If they become bid for bonds, then this effectively kicks the euroland issue down the road again. Also european banks are UP on the day, and clients are coming in to unwind hedges.
Anaconda wrote:
Interesting. Same info., different interpretations...
I didn't see anything to get bullish about in the inventory report. And as for the euro, short of China buying PIIGS debt, I don't see sovereigns being able to do much to shore up the Euro. Very curious, though, to learn which technicals you're following and what they're telling you. TIA
A
There were some bright spots in the report ( well not *that* bright ) but to be honest i am sick of fighting these traders ... if they want to find something bullish, they will. If they want /cl to go up they will do that. I used to be in your camp but now i am just going along with the general consensus. I recommend u subscribe to CME energy daily commentary to get a feel on what the floor traders are thinking.
Also i am counter trend trader. buying support / selling resistance in trending markets.