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Covered shorts around 74.35 area. Tried longs around 74.25 area into close but no buyers showed up. Scratched and reshort. This has POTENTIAL to get real ugly. Shorting into the hole so relatively small position size and tight stop loss.
I am not sure if API report at 4.30 pm this evening will have impact on CL. CL seems to reacting to different news coming out of upcoming OPEC meeting on Thursday.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Damn Silver was stuck within OR all day. Holding some shorts. Thank GOD i do not look at trades tick for tick after i place my stop loss- it will drive me nuts. I moved the stop loss lower from original stop loss in case it spikes up as she has been consolidating at highs for days.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Will be looking for shorts in ZS, PL, KC,PA, NG, SI tomorrow and upcoming days. If we get lucky and get rapid fire up moves in any of these instruements it will be easier to short with defined risk. We ONLY need one A+ set up.
Without that it gets tricky and requires more patience and much wider stop loss.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
So far CL did not fall off the cliff during Globex session as i was expecting. Looks like she may stay in a tight range till something new comes out. Another statement like following and down fall will continue. I will fade any bounce unless buyers/algos get turned on with conviction. Still holding shorts.
" Saudi Arabia’s oil minister said tumbling crude prices will stabilize and there’s no need for producing nations to cut output.
No one should cut and market will stabilize itself,” Ali Al-Naimi told reporters a day before OPEC meets in Vienna. “Why Saudi Arabia should cut? The U.S. is a big producer too now. Should they cut?”
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
1) short PL around 1224.40 area. Cover some. Will add to shorts if momentum to the down side picks up.
2) Short KC around 194 area.
3) Added to shorts in NG around 4.40.
4) Holding shorts in GC around 1199 area.
5) Holding shorts in SI arouound 16.68 area.
6) Holding shorts in CL around 74.22 area. Small position size.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
" If we get lucky and get rapid fire up moves in any of these instruements it will be easier to short with defined risk. We ONLY need one A+ set up.
Without that it gets tricky and requires more patience and much wider stop loss."
None of the instruements moved in quick upthurst moves and thus pullbacks are taking their time. KC had a nice pullback of $2. KC ATR is around $4. I will take 50% of ATR. Out some 192.90.
NG moved up slowly all day yesterday off ORL as did KC and ZS.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
NG,GC, SI scratch and flat. CL covered around 73.45 area and waiting for DOE report. KC covered around 192 flat.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Can not short at ORL and can not go long at ORH. CL is stuck within OR. Sitting on hands. Looks like next round of fireworks are not in the cards till OPEC is done with their meeting tomorrow.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.