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Charts at 10:17
My closes were too early - but I had to enter something as my time was needed to go to the ES and my spreadsheet (always a rush before opening) and this thread is only for the pyramid.
I'm not sure why I closed the contracts, as it isn't part of the pyramid, however last night I was thinking "CL has been down for several days. It's not like the manipulators to let it run too many days in one direction without a 'shake the wagon'. So if they yank it up to throw off the baby bears, it will be better to not have too many short contracts, so I can so short later in the day without increasing my exposure too much."
So playing more conservatively the pyramid is down to only 2 contracts.
I'm looking at a bounce to 100.47 or 1001.25 to sell into (see IB black background graph).
Wrap-up: I decided to cancel the orders to sell at 98.68 and 99.97 in o/n
Open Positions:
July CL
-1 @ 98.89
-1 @ 99.53
-1 @ 97.65
Aver=98.69
Close 97.98
Open equity 0.71*3,000=+$2,130
Cash Balance $49,610
Open equity =+$2,130
Total Equity=$51,740
minus o/n 3 *5,000=15,000
Margin available =$36,740
--outlook for tomorrow-
98.77 looks like a key level if they breakup through this then 100.24 looks possible.
98.46 is the high so far in the o/n session.
Net position -4 [email protected]
CLose 100.09 = -1.085 * 4,000 = -$4,340
Cash Balance $49,610
Open equity =-$4,340
Total Equity=$45,270
Today's action:
SLD 1 @ 100.15 @ 13:37 CT
Open Positions:
July CL
-1 @ 98.89
-1 @ 99.53
-1 @ 97.65
-1 @100.15
Aver=99.055
Total Equity=$45,270
minus o/n 4 *5,000=-20,000
Margin available =$25,270
Notes:
"I'm looking at a bounce to 100.47 or 101.25 to sell into (see IB black background graph)."(yesterday) Bounce today was to 101.42 at 13:00. I feel very good about that estimation. Why didn't I sell there? Due to Ninja related computer prbs I wasn't able to. No matter.