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A GUIDE TO MAKE A LIVING TRADING OIL FUTURES
Thursday, May 7, 2009
overnight oil breaks through the range/Jobs are better
The good news we lost nothing the bad news we missed a a fairly nice move to the upside on the overnight. As it turns out stop adjustments rather than picking market tops is proof once again that this system allow for the home run. That too is relative a yesterday we did pick up 2.15 points on our trade bringing us
to our weekly goal by midweek. Let's say we hit a two run home run but a grand slam could have been accomplished by staying with stop adjustments and letting the market tell us when the rally is over.
Last sale 57.83 and june Oil touched 58.07 somewhere betwen 11Pm and 730 AM- This trading range lasted a long time(8 weeks of up to 55 and down to 45)and was tried and true and especially since we did not risk anything through careful stop adjustment there was a strong argument for the overnight play made. Our new buy channel should have been a hint we were to break out here as the range has ben shattered.
As members know we have sent out entry points move stops immediately when it moves in your direction to break even and take free shots only.
As far as the overall market is concerned the teacher is the government and the favorite students are the banks. They write the rules and grade the results and it was a masterstroke letting the news out early when they of course knew it was good news. I have been saying since March 9th that the bottom is is buy pullbacks and watch your account grow. Citibank which we have been talking about for some time has jumped 1.5 dollars in approx. a week A 3 dollar stock at 4.5 I hope you guys followed me on that one!
If you have any questions about our trading or terminology or how to join feel free to email
at chrgr06@yahoo.com and I will respond promptly
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top horiz-54.37 middle line 51.74
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overnight oil breaks through the range/Jobs are be...
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we are in the break oil closed at 53.84 ater open ...
pretty tight trading range still not a bad day
looks like we are gonna have to work for it today
last sale 53.54
oil stuck in the la brea tar pits
june contract drops to 54.07 last check in 10:16PM
oil drops to 54.10
june contract drops to 54.32
we are at the break-Tuesday's trading starts in 16...
Sometimes discipline can work against you but over...
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Overnight pricing just out of reach
stopped out already but email to re-buy a53.12
June contract 53.40
Sunday's Globex Action begins at 5-Offcially first...
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oiltradinginsider
new york, new york, United States
technical and fundamental coupled with most recent economic data -2 major postings a day 8 AM and 8 PM many days supplemental posting so keep it linked to your page
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