Crude oil 8-02-10

Last week i laid out the case for a rally possibly to the 82.60 area. I still feel as though oil is way overpriced up here , based on fundamentals. On the short term im expecting some resistance at 72.62-72.65...

congrats Einstein

Originally posted by einstein

nice trades guys. Scalped a few cents too.

proj is 81.46...trying for 81.50

ooops ,actually proj (1.618) 81.072-81.58=81.49.. i'll exit 81.54

well, only 7 cents ,but im too nervous to sell this market much...rather be a buyer!

i am using 8172-8158 >>> 8135 fwiw

Originally posted by koolblue

ooops ,actually proj (1.618) 81.072-81.58=81.49.. i'll exit 81.54

I'LL BUY ANY STAB BELOW 81.30

IM USING THE SECOND 81.72-81.56=81.30

I see. I overlooked the second touch of .72. my bad

ON THOSE KIND OF SITUATIONS I ALWAYS GO WITH THE TOUCH THAT HAS THE LARGEST INITIAL MOVE... THEN IM SURPRISED LESS OFTEN...LOL

Holy crap!...i was so busy posting here, and on the es thread that i missed my 81.30!!! oh man...