Resistance is just above $25.00
With the June $25 calls at .12 and the July $25 calls at .30 I'll look for a pullback to the $22 area on Monday to buy the July $25s. If it doesn't want to pullback I'll take the June $25s.
In either case I'll dump them when/if the stock hits $25.
Looks...
May 27 (Bloomberg) -- Crude oil fell more than $3 a barrel in New York, the biggest decline since April, on signs that U.S. fuel consumption is dropping because of a slowing economy and record energy prices.
Gimme a break!
:D
How does one day's trading confirm "NEVER"?
Your prediction, whether it plays out or not, can NEVER truly be confirmed, unless you post durring Armageddon. :D
Bottom Line................ In the video Cramer says,
"Bear Stearns Is NOT in trouble. If anything they are more likely to be taken over."
At the time of the video BSC was $62+
Where is the debate? Cramer was WRONG.
SCREEN TIME. There is no easy way. Even if you read every book, have the best platform and unlimited funds, you cannot get around the hours and hours of actual screen time needed to begin to trade in synch with the markets as opposed to placing your bets.
And do yourself a huge favor and...
You eloquently pinpointed exactly what I meant. Be it CNBC, Bloomberg, the local six o'clock news or pick your favorite buisness news source on the web, radio or TV. It's ALWAYS "......fell on......" or "......rose on......". :)
Surf,
Not saying I agree or disagree with this claim. However, your past claim that oil will not hit $100 was wrong.
Your's was the first reply in this thread http://elitetrader.com/vb/showthread.php?s=&threadid=73451&highlight=jim+rogers+%24100+oil
As someone who trades off the chart I have to laugh every time I see CNBC, Bloomberg and the ilk search for a reason for movements in prices. Just once I'd like to hear one of those idiots say somthing like "well it looks the market just hit resistance at the 200 day moving average and is now...
Price is right at an overhead trendline on the weekly. Yes, it could break out above it, or even ride it's way up the line for a while. But if it's going to pull back this could be a good place for it.
Yes, it has dipped below but has always closed the month above it, SO FAR. That's why I put it in my non-leveraged, long term investment account.... my IRA. I'm not at all suggesting you trade it or buy calls.