Wednesday, February 23, 2011

Crude Oil gets close to $100 per barrel and backs off ...

Good Day!
Today was a fun day to be a day trader. There was a nice move up to almost $100 per barrel and another nice move in the afternoon to short crude oil back down.
What goes up must come down ... and a lot of times 3 times faster than it goes up ... which makes shorting a market a lot more interesting than going long.
Our job as traders is not to have a bias when we are trading ... to do our best to TRADE what we SEE, and NOT what we THINK!
Today was one of those days that you just knew it was going to reach close to $100 per barrel and sell off ... sometimes ... we all look great when we are calling out where the market is going to reach.
Our first trading class with our new TCB Crude Oil product is off and running. Our next class will start in May of 2011. We hope to see you then.
Good Trading,

David "Tiger" Knight