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Getting bearish after such a downmove is not wise. I don't care what happens, this thing is on the verge of a major bounce / major bottom.

Catching it there would have been difficult (at least it was to me). At that point i didn't have much of a clue whether it was going to rally or collapse. Already being so overextended to the downside, one would expect a rally. In the longer term horizon, CL is in teh area of a major low...

Had a nice trade this morning after 2 days of horrible trading (trading too much, i usually do best with 1 or 2 trades a day in oil). Shorted at the small red dash at 91.46, covered at 90.21 at the small blue dash.

Not sure if it is really relevant on that chart, for a few reasons: 1) Currencies are different than stocks. Those formations tend to work much better on stocks. 2) cup and handles are usually continuation patterns, i'm not sure if it has much relevance as a bottom formation. Still...

lol....a lot of this also happened while i was alive. It must mean that I am the reason for all this advancement.

Over the next week or two, oil is getting itself ready to make a major low. It may have hit its low already, but it's possible for oil to go as low as $87, if it ultimately wants to go higher. If it crashes far below $87, it'll still have a bounce in it, but eventually it will probably go...

You and your 50% reversals, lol. I don't read this page much, but i remember your handle cause which trader can't see the greatness of a completely laissez-faire free market capitalist society. That said, every time i read a message by you, these words are contained there in: "50% reversal"

Why would you start an incubator fund for establishing a track record? Just manage a few accounts of friends and family and that should suffice, especially friends. Even your own account can be used to establish a record. I think the most important thing for a track record is performance...

Definitely agree with that. CL is a tough one to hold long term, on the other hand, GC is easy to hold for a long time. I've noticed that it rarely (relatively speaking) has noise which stops you out of a position.

Just out of curiosity, why do you think that the CL is so difficult to trade? The only 2 futures markets I ever fully trade and make money on, are gold and oil. Gold is my main market, in my opinion, it is without doubt the best market in the entire world to trade. I swing trade gold, my...

You're barking up the wrong tree. You have a mini-account and want to hedge your CL/NG with ES? That's just playing with fire. Why don't you use the mini contracts, I know both the CL and NG have mini-futures. I think for the CL it's QM which is 50 barrels, but there may be another one...

This has to be a joke. HFT just seems to be the new excuse in a long line of excuses for losses. The oldest excuse in the book for losses is: "i would have been successful, if only they hadn't manipulated the market." By "they" of course the excuse maker means the powers that be. The only...

It's going to be tough for oil to move down another $10 without first consolidating this move. And this recent few days isn't much of a consolidation for the prior collapse. I suspect we break the recent lows of the last few weeks before running higher for a week or more before eventually...

Of course capitalism isn't perfect, nothing is. That's why in a pure laissez-faire capitalist system, you have a self-regulating process. If someone makes the mistake of investing in a bad industry, they lose their money and go out of business. If a bank takes too many risks, the depositors...

This is the only part of your post which is relevant. To this i say, WTF man? No one should ever just be anything. The whole point of trading or investing is to be able to tell when a bull or bear market is underway. You would admit that there is such a thing as a bull market, correct? If...

Anytime government involves itself in something it causes major problems. Of course I'm not an anarchist, government is necessary for a lot of things, even if they cause problems. For instance, national defense can only be done through government, but even there they cause major distortions...

Any big trader can move a market up or down if they wish. The problem is that it's irrelevant. For someone to move a market, they need to buy or sell a huge amount of assets, depending on the direction. But the problem is always that they know own or are short the asset once it has moved, and...

Capital punishment is too much. Moving towards the communist tendencies of China is not something i recommend, rather we should move towards their more capitalist tendencies. But at the very least this scoundral Corzine should be in prison for the rest of his days. HOw does this ruling...

He is attempting, perhaps in a rude way, to explain to you how a fair and VOLUNTARY society would operate. A brain surgeon makes a lot more money than a hamburger flipper. If you forced the brain surgeon to flip hamburgers, then who would operate on you when your life is on the line? The...

What people need to start realizing is that the government is NOT on your side. At the very least i would get the sentiment to tax the rich people a lot, from the middle class's perspective, if they then got that money. Unfortunately for them, that's not what happens, lol. Get this one...