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A GUIDE TO MAKE A LIVING TRADING OIL FUTURES
Tuesday, September 1, 2009
I have been using esignal
Esignal does not export their chart that easily but I have been looking closely at this one
We are now at the crossroads we are hearing all sorts of I told you's from the analysts who have ben proclaiming this sell off since the last correction in June
We have heard from countless sources the reasons for the sell off
overbought-china- too far too fast-unemployment-end of the QE
That to me is the last two I may be willing to buy into as we know the market has been propped up by the fed printing press and there will be a time that ben must pull back he won't do it
just because the ism finally turned positive making a strong case for a v shaped recovery
he ust got done with a meeting where he pointed out the mistake of the last fed chairman who presided over an economic catastrophe did just that pulled the QE too soon.
He will lose credibility if he does the opposite of what he just proclaimed
SO if the sell off is base on the end of the QE we are jumping the gun seriously
The last one is the scary one the jobs are bad you can see it in the world we live in people are out of work and it will be the last thing to get fixed so to all these people it will seem like a recession
no matter what the ism and GDP report
They will crush the market a little more if the jobs are bad so it pays to protect your portfolio
If these jobs somehow come in better we will explode higher
All the other macro data points to recovery
We are again at the base of the bull channel by my estimates on the chart
We have seen it dip slightly below this mpoint and bounce nearly to the top but a half point breech and close and we are headed points lower according to the technical indicators
as you know I make them prove it when a trend is established I should have had two round trips off 68 already but I did not cash out at 68.5/68.6 so I am not covered in case of a stop out here and I also don't like when they keep retesting eventually I feel they will get through we watch the buck and the futures it will need capitualation to crack this here
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after 1322 posts this party is over
have a great labor day
We told you we need to take in the news
one stop reenter
hold the presses
Trade the swings
play the jobs today
Friday NFP
last trade im done for day
oilitraders
im not the onyl one buying at 68
if you read the email
We are long
BP discovery
Jcg
Today's Guidance
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API
I have been using esignal
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APi it has been said
To the newer traders
Technicians talk
nymex closes on the low
oil 68.75
The dollar was the clue
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the market sells off hard
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looks like sixth trade covers it
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guess its a scalp day
the good with the bad
ung wow
fourth trade nets 20 cents
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we want to position trade but...
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oil this too can flip again trade today
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Our third attempt at a long we use a thirty cents ...
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we buy in again
remeber the synthetic we suggetsed last week
Sell the first buy in
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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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