Tuesday, June 2, 2009

Overnight action Tuesday

If you look closely I have the r2 at 69.18 a good spot to sell approx
This morning I gave out some bold pricing 67.75 buy side I only took one spin but you could have made three round trips between 67.75 and 68.25 during the trading day I also said that 
it would only be valid for a couple hours  and it traded down to 67.5 right after which is just barely a stop out but I pulled the bid and alerted all members it turns out that was a pretty decent entry from the buy side. I also posted and pulled a small sell rec at 68.5 same thing one round trip and I backed off again. Yesterday My sell entry was 69.05 and today I bumped it to 
69.18 which is 13 cents away again I tell experienced traders to shade and  trade depending on my bias And phrases like"this rally has arthritis" or"needs a cane" or "should use a walker"
was an attempt at humor but clearly bearish.Well I sold at 69.03 and everyone in the group
should have sold I put several posted entries that I was looking to enter and then I would shift from scalping to stop adjustment. I stayed with you guys guided you to some decent back and forth trading and position trading all in the same day-It was a good day for me and should have been for every member that traded today. 


Overnight sell point 69.05 area  I am likely to sell somewhere tonight if it does not reach


buy 67.05




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