SELL TO THE MAX, & LET THE BULL RUN 6/11/13

YESTERDAY,  the discussion was centered on the consolidation in a narrow range.  A benefit of the consolidation is the expected, extended break out run.  We got it.

PA was stalling at the upper 50CB/LB range, ran the range and sold in the extended run to a BO-15 level which was considered the max run.  It had a +2 to +5 additional run prior to a reversal.


The expected run

[09:19] <CM> as expected both ES and CL range bound action yday broke, and it was an extended run. both were Range Bound near highs and broke to bear side of support from 95.82 area broke 95.35 heading to 94.   ES, 1646 zone to 1624 (actual so far 1626) a +15 BO a +20 from the RB consolidation  (link deleted)


Since we were close to a potential max run, key bull areas were provided as a watch.

[09:26] <CM> CL long consideration break of prior control bar at 94.49 the bear TL to break as a pre-warning is at 94.42

[09:33] <CM> cl upper 94.60  94.73
[09:36] <CM> es bo15 hit at 1624  allowing 2-5 additional bear before a reversal

[09:40] <CM> CL upper targets 94.60 94.73 ES upper 27.5 30.25
[09:40] <CM> RF b3-4 potential reversals


The reversal was in.  Upper targets hit for both ES and CL as a bullish channel developed.  With target in, the bull was back and very much alive.


EARLY AM POST

AND THE DAY

Overall, a very nice day as we expand BOT and 50CB studies to other instruments.