any traders making bets on /cl today? i've seen this behavior before and it looks to me like we are winding up for a move higher. lots of hurricane threats and other excuses for traders to bid up prices.... last nights API report was bullish. we might get an initial whoosh down though...
agnosia wrote:any traders making bets on /cl today? i've seen this behavior before and it looks to me like we are winding up for a move higher. lots of hurricane threats and other excuses for traders to bid up prices.... last nights API report was bullish. we might get an initial whoosh down though...
EIA report at 11am EST. CL market likely to get crazy then.
BullBear52x wrote:I see very importance sign development, /ES open interest dip below 1 today. a trade back up above 1230 (/ES) a new yearly high is most likely, sell now until it breaks up before back up a truck for the long side.
That does look like a really interesting chart. There does seem to be a rally after each highlighted spot but sometimes after a new low and sometimes not. I am not sure how to interpret. Does this mean that institutions are on the sidelines and neither long or short but that they will move soon?
stockcycle wrote:It's seems to me that some consolidation around 1199 and then up.
likely, i tried getting short this morning. figured gap fill and then down. walked away, my order missed at 1199 ES and then i got in too late, got blown out. discipline rules!! be careful out there boys and girls.
stockcycle wrote:It's seems to me that some consolidation around 1199 and then up.
likely, i tried getting short this morning. figured gap fill and then down. walked away, my order missed at 1199 ES and then i got in too late, got blown out. discipline rules!! be careful out there boys and girls.
short appears to have higher reward/risk here, but you will never know.
agnosia wrote:any traders making bets on /cl today? i've seen this behavior before and it looks to me like we are winding up for a move higher. lots of hurricane threats and other excuses for traders to bid up prices.... last nights API report was bullish. we might get an initial whoosh down though...
Hi agnosia,
I am waiting a pullback to 89,15/89,20 to enter long, and add above 90... target could be 90,50 then 90,90
uempel wrote:I didn't like the first dip, it was kind of amateurish. I'm waiting for Nr. 2:
SPX2.png
Yeah, I'm out of my stupid short that a covered at a small loss. Everything I look at says Buy but waiting for a good dip. I'll assume traders want to test and try to break above 121.20 today on SPY. That could complete what I see as a quick 5 waves up for an A move and then we get a bigger pullback that I should have waited for to short.
Bulish for SPY: bond selling is strong today (TBT) and VIX new low on day. But advancing issues anemic at only 1100 – 1200 (NYADV). Advancers need to get over 2k to support a convincing rally.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
champix wrote:
Hi agnosia,
I am waiting a pullback to 89,15/89,20 to enter long, and add above 90... target could be 90,50 then 90,90
nice, yeah i would be really surprised if we don't test last nights high of 90.48 at least at some point with such a strong leg up the past couple of days. good luck.
I have a little doubt about today's rally as it's not broad based. Tech is leading. I'd be very interested to see when gas is at $5 a gallon how many people are willing to upgrade their iPad.
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