Another Unique Moment in Time

Nice day to trade today with a power move up in the afternoon session. That's two nice Fridays in a row.

Strange.

In this business you have to expect anything and everything at anytime. No bias allowed.

5 Minute Crude Oil Chart

1 Minute Crude Oil Chart

I did a little culling in the blog list today. I don't mind if you don't reciprocate a link, but if you don't post, you're just taking up space.

If anyone knows of a great trading blog let me know. I would like to add day traders who trade crude oil or any other futures contracts. Preferably ones that don't feel the need to drop the f bomb every second word. Yes I'm speaking to you Dinosaur Trader. Great trader, great writer, why diminish when you have the ability to distinguish.

While your at it feel free to tell me anything else you would like to see more of, or less of on the blog.

Have a nice long weekend.

Ethanol, Just Recently a Savior, Is Struggling

A VeraSun Energy plant in Dyersville, Iowa, opened in early September 2008 and closed two months later. Now it is for sale. Photo by Mark Hirsch for The New York Times






"Barely a year after Congress enacted an energy law meant to foster a huge national enterprise capable of converting plants and agricultural wastes into automotive fuel, the goals lawmakers set for the ethanol industry are in serious jeopardy." Clifford Krauss, NY Times

Your tax dollars at work.

Click on the read more icon for the full NY Times story.


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You're Going the Wrong Way!

It seems like everyone wants to go long crude oil.

Why?

Because it's gone down a bunch, I guess. So has the DOW and I don't see a big line up to get long on that wagon.

I don't swing trade so the long term trend is irrelevant to me. My attempts at predicting crude oil prices are always wrong, but, it looks to me if you're going long crude, you're going the wrong way.

Daily Crude Oil Chart

Super Genius

Some days you can research, plan, execute your plan, think happy thoughts, and you still don't catch the road runner. Timothy Geithner's plan had the same kind of day.



5 Minute Crude Oil Chart

1 Minute Crude Oil Chart

Pride and Joy

Got into a big fight with my plan this week. It was ugly, yelling, screaming, crying, and then the neighbors called the police. I threatened to leave my plan, I told her I found a new faster version, one that looked up to me as the trading master I am. I am ashamed to admit I even tried out the "other" plan. But, in the end my plan did not fail me, and she remains as always, my pride and joy.



1 Minute Crude Oil Chart

Matchbox Blues