“Just like oil!”
One oil algorithm trade today, off a secondary signal that didn’t yield much
… then oil collapsed to a new low below 57.00, and then rocketed up near
the high [58.80] so far … all in all a couple of bucks, but nothing major to
warrant any whoopie!
Really, the action when I came to the screen already has oil with n almost $2
range … and that usually means the U.S. session will be bullshit … which it
has been, with the entire U.S. day being nothing more than a gigantic
“Flying Wedge of Death” [FWD] … I passed on the last signal trade, simply
cuz it’s after 1:30 PM EST, and didn’t figure it had anyplace to go … wrong
… this shit can go anywhere, anytime, it wants. As I write, it’s threatening
the high for the day, which would be a major reversal day if breached.
click on chart to enlarge
The white arrow got me in at 57.99, and the orange arrow got me out at
58.04 … spread was 4 cents … bid/offer spread today not very good,
hovering between 4 & 5 most of the day … got 4 on both trades, but 3 would
have been better … who knows what drives these scumbag LP’s to price oil?
Anyway, back at it tomorrow … until then mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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