Wednesday, May 27, 2009

overnight Priing

Once again we are in the break and in the face of a down market Oil sentiment remains very strong. So strong in fact that Oil went up and tested the R3(resistance line in Tech analysis)
peaking at 63.82. My trading style by day is typically far more aggressive than at night
And even though many analyst and factors pointed to a bit of correction -the correct play
was to buy this morning and sell the late afternoon. Our entry points were hopeful to be kind on the buy side and .32 cents shy of the top on the sell side. We warn members when we give out these points to shade 10 cents to a quarter depending on the outlook I give and the 
inertia of the rally/sell-off. Unless I tell you to buy/sell with confidence which I usually do at 
least once or twice a week. Also If It is a day I'm actively trading like yesterday and we miss a buy entry by 10 cents keep an eye for the posting you might see that I bought in a little higher 
when we fractionally missed the bottom. On days like that I will sometimes post when we are getting close as well as I did warning members the entry was here.

selling above 63.6 tonight
just bought 62.88 not planning to hold just for a scalp





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