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Nice call @tigertrader, looks like we are confirming a reversal day with lots of shorts trapped below 1240, and we'll safely not break any 27 year old "streak" of down days.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
I don't know if you guys listen to Ben Lichtenstein's Trader's Audio but today was very spot on as he was calling out big paper buying at the low's and adding all the way back up. Pretty wild day. I was expecting a retracement higher before we saw any selling coming in today. Just got to trade what you see on the screens of course.
I took off half at +5 points.. Caught a nice wave down in CL today as well, so I'm quite happy for the day.
I've been up 9 nine hours and not eaten or had anything to drink yet (that's the downside of trading to many markets and time zones), so I think I have to remedy that. I feel lightheaded...
Now, if only the market could pass while I eat brunch, I'd be all set...