Sunday's Globex Action begins at 5-Offcially first trade 6 PM indication lower opening looking down .75

 If you are a member or a loyal reader this is certainly nothing new-We start our week on Sunday afternoon. More often than not oil will move a point or more before most traders even make it to the floor of the NYMEX. If you did not play the overnight last week you had a hard time posting a profit as the majority of the price swings transpired between Midnight and 7 A.M. This does not mean you have to be an insomniac like me to profit from this type of action.
We try to find a desirable entry point and consistently place a stop .25 above or below depending-Typically the contract moves enough with 15 minutes to make a stop adjustment to limit liability to zero or to protect a small profit. From this point you can leave it alone and check in with me for the 8 A.M. posting. If there is a dramatic move prior to this I will usually advise another stop adjustment to further protect profits so it is important to have HTTP://feeds2.feedburner.com/oilinsider linked to your homepage which gets updated continuously and will keep you in the loop if something exceptional occurs.

For the entry points-members should as always check your emails  as we scour for anything new on the economic front that should cause us to alter our direction. The obvious inventory bulge has been discounted and oil seems to have latched itself firmly to the fortunes of the S+P  and the USD. Chart is being analyzed and we will post it before the afternoon opening with said chart and stop adjustments.  

3:43 Sunday 
Taking a  look at the longer view shows a second buy channel forming and like the first one which served us so well oil has been bouncing off resistance and jumping off support like clockwork. Technical analysis is a timing tool-Keep an eye on this trend for just that reason