Stops are kept tighter on the overnight for anyone new to my trading style. I believe oil is going higher ultimately but today's move was on sentiment mostly
and that can evaporate as quickly as it materialized. We are wandering again into Wednesday and Of course by now everyone should know between 8-9 am the EIA. The rule of thumb is to stay flat wait for announcement and go with the flow. Last week we front ran the report going long and getting members in on that winner at 60.47( I know of at least 5 who did.)
It was over a grand a man for anyone who got on board a thing of beauty.
The normal rules are out the window here Oil trading is an ever-changing phenom. that
marches to the beat of a different drummer so part of the trick is realizing what is driving the rhythm right now. So we are gong to watch closely and see if we get any hints and pass them
on to my team ASAP.
As everyone also knows I sold right after the re-opening at 62.80(other member had ages to get in on this overnight action but few seem to) it is now 62.42 We are up thus far $380 but we will only protect $80 we trail stop 30 cents from here and since we stayed up
until 1 am trading yesterday and started at 7 Am today and have only stopped for food breaks
while still watching I may go and catch a couple hours sleep. We may wake up even and flat we may wake up with a nice profit. I prefer the latter but will be ready to play the cards dealt.
One thing is certain I like what I do.
1 spots left join the charter membership prices are $40 per month June 1 2009
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