From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Deosaran Bisnath
Sent: Friday, August 26, 2005 5:59
PM
To: realtraders@xxxxxxxxxxxxxxx;
ntt-list@xxxxxxxxxxxxxxx; Vincent DONOVAN (E-mail);
e-mini_traders_anon@xxxxxxxxxxxxxxx; Value_Oasis@xxxxxxxxxxxxxxx
Cc: Ronald McEwan
Subject: Re: [RT] state of the
market ..... what about that crude? down $1.30 in a few minutes!!
I am just about finished with
updating charts before taking off for the
weekend.... this looks like much more yet on the
downside. Possibly a drop to
1200 SPU, then oversold bounce, followed by
further declines to SPU 1180 or
thereabouts. That's line in the sand, for now.
NW: A
drop to 1200 or 1180 would be a small drop. That is only a few percentage
points. Now, go look at some long term charts for the S&P and the
DJIA. The same thing is true for your Crude Oil drop today. That is very small
potatoes in the big picture for Crude Oil. For Crude Oil, I recommend
that you think in terms of at least $5 to $10 swings. If you don’t
set out to make profits that are commensurate to the risk, you will eventurally
go broke.
Regards,
Norm
Did anyone notice the sharp drop in crude today
during last 25 minutes?
I am dabbling in mini crude futures, was short
from 67.70, set proft level at
67.15, that I never really expected to be filled
today.... market dropped
precipitously, frmo 67.50 to 66 in a few minutes,
they say it was short
covering and Katrina not affecting the offshore
crude installations in G of
Mex.
And yet, markets could not take advantage of this,
SPU rallied to 1211 then
also dropped off during last 1/2 hour. Looks
bearish.
--- Ben <profitok@xxxxxxxxxxxxx>
wrote:
> Hello
>
> the chart attached shows the perfect stop
loss,
>
> when we are in a bull mode it never
penetrated the last line from the top,
>
> when we are in a bear mode it acts as
resistance, and market keep going
> lower,
>
> how much lower?
> the cash should get support at 1199.13
>
> and for close to be back in an up mode we
need cash to close above 1209.25
> Ben
> > No virus found in this outgoing message.
> Checked by AVG Anti-Virus.
> Version: 7.0.344 / Virus Database:
267.10.16/83 - Release Date: 8/26/2005
>
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