Quoting 

Baker Hughes Rig Count: U.S. -20 to 1028 rigs U.S. Rig Count is down 20 rigs from last week to 1028, with oil rigs down 11 to 802, gas rigs down 11 to 222, and miscellaneous rigs up 2 to 4. U.S. Rig Count is down 790 rigs from last year at 1818, with oil rigs down 696, gas rigs down 94, and miscellaneous rigs unchanged at 4. The U.S. Offshore rig count is 31, down 3 rigs from last week, and down 16 rigs year over year.

The report is also available on their corporate website.

mfbreakout 

Anyone else trading or just watching the show? Traders who do not expose themselves and have desire to learn, improve, share will never get any where as far as forums like these are concerned. There must be lot of other things one can do if one is just trying to kill boredom.

I do not post chart because I think they are useless couse I'm scalping and it's not simple explain every trade I take.
Anyway this is the chart with today trades.

I stay very short time in the market.
Today I had already decided not to trade more after the early good 3 trades, I had done the day. But then I went back three hours later, read this thread, and went back to the market and I took other trades. Damn I always have to be careful to do not overtrading.

LukeGeniol 

I do not post chart because I think they are useless couse I'm scalping and it's not simple explain every trade I take. Anyway this is the chart with today trades. I stay very short time in the market. Today I had already decided not to trade more after the early good 3 trades, I had done the day. But then I went back three hours later, read this thread, and went back to the market and I took others trade. Damn I always have to be careful to do not overtrading.

just post your A+ set ups when they come and you take the trades. Traders have enough poison of their own to die from while scalping, they do not need our help for scalping.

defination of scalp= less then 25 ticks.

A trader ( who will remain nameless) went long 48.75 ( all he remembers that CL went from 48.70 to 49.67 area an hour ago). He tried to be brave and had stop loss at 48.55. He can not believe that there is no bid (yet) for CL wheh an hour ago she jumped 90+ ticks from here?

I am out 48.61.

mfbreakout 

Back to scene of crime and i am staying short till Flush down. Short from49.43. Nothing wrong with covering some. But saying 48.70 is support and going long without evidence is for DAY DREAMERS. CL can jump back upto 49.60 etc without a FLUSH down first, but i stick to my RULES. I am happy to get stopped out on remaining short position. Plus i will have plenty of time to decide should i just close the shorts or sit tight.

out 48.61. got out too early thinking FLUSH down came. But a bigger one came right after that. Trying to decide if i should try longs here. No rush, plenty of time to decide. No need to enjoy joy ride by being early.

I wish i had looked at this earlier. Would have put some size behind the short and would have held. reshort 48.47. Stop loss above 48.81. Will cover some along the way to reduce risk. 48 area will not break that easily and can have whip saws of 30-50 ticks in between.

" E.U. and Iran Expected to Issue Joint Statement on Nuclear Talks"

came an hour ago.

mfbreakout 

A trader ( who will remain nameless) went long 48.75 ( all he remembers that CL went from 48.70 to 49.67 area an hour ago). He tried to be brave and had stop loss at 48.55. He can not believe that there is no bid (yet) for CL wheh an hour ago she jumped 90+ ticks from here? I am out 48.61.

There maybe news out there although its completed its auction from where it left off yesterday. Not interested in longs yet

garyboy275 

There maybe news out there although its completed its auction from where it left off yesterday. Not interested in longs yet

US to lift sanctions following IEA ok

Edit: Obama speaking on Iran in 15 minutes time

Short 4915 stop at 4935 tight charts later
Edit Out 4868

The real auction theory--One idea since morning that we don't have balance and are going to chop around looking for it. The Yellow arrows are where it takes off and the red arrows are the ones when it pullsback to same area-over and over and over all day long.

mfbreakout 

I wish i had looked at this earlier. Would have put some size behind the short and would have held. reshort 48.47. Stop loss above 48.81. Will cover some along the way to reduce risk. 48 area will not break that easily and can have whip saws of 30-50 ticks in between. " E.U. and Iran Expected to Issue Joint Statement on Nuclear Talks" came an hour ago.

stopped out. reversal of Flush down. Long on pullback from 49.20 area. Long 48.72