Posted by junkmaylbox on 26th of Dec 2008 at 03:29 pm
Chris, Is 1.99 your stop on a swing trade or your day trade?
Will you carry your DXO position into the next week? I am tempted
to keep mine, although today's run has been spectacular. Thanks for
your trading comments :-))
Posted by dumboberry on 27th of Dec 2008 at 09:01 pm
Nymex traders are set to defend $35/bbl next week. If it breaks,
it will be a sharp drop to.....................$30/bbl where their
will be strong support.
Now, what is the nav for DXO if we test $30 on the February
contract (CLG9)?
My guess is we test............$1.40 on the DXO.
The downtrend channel should finally bust to the downside.
Thanks however the credit goes to the Board here and Matt.
The Board here has shared a few systems and trained me via posting
charts over the past 6 months of these systems. I've been
studying them for months.
Matt's chart posting of DXO downchannel from eariler (I believe
Monday) also helped plus with 7/21 system cross was yet another
signal to take home some shares.
I didn't do much other than watch and wait. Nice part
is when it dropped .13 cents in about 3 mins. timeframe I knew I
needed to pull the trade since I already knew 1.77 was support area
from earlier in trading day. No thinking just chart reading so
when I saw 1.80 on ask I placed my large size order. I used
stop limit once my order was filled near 1.72 area just in case
support was broken and wouldn't hold.
For new traders .. chart study. Know support and Ress
zones and chart signals. When they signal you do not think
you just place orders.
Old me would have thought too much and then lost the trade or
entered too late and been a higher risk entry .. Thanks BPT
for the site ... Its great and worth money spent to join.
Everyone have a nice weekend
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Chris, Is 1.99 your stop
Love CNBC
Posted by junkmaylbox on 26th of Dec 2008 at 03:29 pm
Chris, Is 1.99 your stop on a swing trade or your day trade? Will you carry your DXO position into the next week? I am tempted to keep mine, although today's run has been spectacular. Thanks for your trading comments :-))
DXO Trade
Posted by cspirit on 26th of Dec 2008 at 03:48 pm
I have two trades going today on DXO
# 1 is down channel support near 1.90 looking for top of down channel near $2.35-$2.50 area
# 2 Day only scalp trade from 1.80 which I sold 3/4 at 1.88 and keep 1/4 for a runner. The limit order on that 1/4 just filled at 2.05
I'm out of trade # 2.
USO downside target
Posted by dumboberry on 27th of Dec 2008 at 09:01 pm
Nymex traders are set to defend $35/bbl next week. If it breaks, it will be a sharp drop to.....................$30/bbl where their will be strong support.
Now, what is the nav for DXO if we test $30 on the February contract (CLG9)?
My guess is we test............$1.40 on the DXO.
The downtrend channel should finally bust to the downside.
Chris, thank you for the
Posted by fearandloathing on 26th of Dec 2008 at 04:13 pm
Chris, thank you for the Great Job on DXO today! You will be watched on Monday... Cheers
Thanks however the credit goes
Posted by cspirit on 26th of Dec 2008 at 05:06 pm
Thanks however the credit goes to the Board here and Matt. The Board here has shared a few systems and trained me via posting charts over the past 6 months of these systems. I've been studying them for months.
Matt's chart posting of DXO downchannel from eariler (I believe Monday) also helped plus with 7/21 system cross was yet another signal to take home some shares.
I didn't do much other than watch and wait. Nice part is when it dropped .13 cents in about 3 mins. timeframe I knew I needed to pull the trade since I already knew 1.77 was support area from earlier in trading day. No thinking just chart reading so when I saw 1.80 on ask I placed my large size order. I used stop limit once my order was filled near 1.72 area just in case support was broken and wouldn't hold.
For new traders .. chart study. Know support and Ress zones and chart signals. When they signal you do not think you just place orders.
Old me would have thought too much and then lost the trade or entered too late and been a higher risk entry .. Thanks BPT for the site ... Its great and worth money spent to join.
Everyone have a nice weekend