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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...
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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...
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