10/16/2008 PM
Last night we set up to buy this morning Crude oil near by contract at $73.00 and $68.00, we got the $73.00 and missed the $68.00 by 55cents so far. Lets leave the $68.00 buy in place. Put a sell order in at $80 for this unit.
We also had orders to by the SP Dec. Future (SPZ08) at 875, 835, 800, 3 individual units. We were filled the 875. The market, last I look was trading 946.50 up 76.50 points already. About 80% +gain on margin in less then a day. We will put an order to sell at 975 and move our orders to buy on the other two units to 820 and 780.
I believe this is a 4th wave now and will peak out between here and about 1025 area. Then head back down to above today's low and bounce again.
Do your diligence.
Happy trading!
Richard
View my new homes for sale and other real estate of interest.
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