Don't be ridiculous! This is still going DOWN. Try your cycle count again when we've popped through $25.
5% - 10% profit per day trading
- Thread starter spanish89
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Don't be ridiculous! This is still going DOWN. Try your cycle count again when we've popped through $25.
Ive got a feeling that the following 2 things are going to make oil not be able to stay too low for long though, and very likely cause rallies even if only shorterm, it will be the start of bottoming, so maybe the rallies will be the shoulders if it forms head n shoulders bottom.
1. Opec are gna call anothe rmeeting in january, maybe even another surprse/emergency cut of even more oil again.
2. The longterm stength that will rise prices will be when the headlines about oil gna be $300+ in 2years time after this recessions passed due to lack of investment in oil now os these low prices + the fact that people are gna start remebering that oil WILL RUNOUT EVENTUALLLY!!!
even if theres famine all over the world and oil price goes under $20,
the oil will still runout 1day.
when 2009 trading starts itl just be a cause of buying all the steep intraday dips and taking 60 t 90ticks profit pepr each.
So business as usual
1. Opec are gna call anothe rmeeting in january, maybe even another surprse/emergency cut of even more oil again.
2. The longterm stength that will rise prices will be when the headlines about oil gna be $300+ in 2years time after this recessions passed due to lack of investment in oil now os these low prices + the fact that people are gna start remebering that oil WILL RUNOUT EVENTUALLLY!!!
even if theres famine all over the world and oil price goes under $20,
the oil will still runout 1day.
when 2009 trading starts itl just be a cause of buying all the steep intraday dips and taking 60 t 90ticks profit pepr each.
So business as usual
Quote from spanish89:
Ive got a feeling that the following 2 things are going to make oil not be able to stay too low for long though, and very likely cause rallies even if only shorterm, it will be the start of bottoming, so maybe the rallies will be the shoulders if it forms head n shoulders bottom.
1. Opec are gna call anothe rmeeting in january, maybe even another surprse/emergency cut of even more oil again.
2. The longterm stength that will rise prices will be when the headlines about oil gna be $300+ in 2years time after this recessions passed due to lack of investment in oil now os these low prices + the fact that people are gna start remebering that oil WILL RUNOUT EVENTUALLLY!!!
even if theres famine all over the world and oil price goes under $20,
the oil will still runout 1day.
when 2009 trading starts itl just be a cause of buying all the steep intraday dips and taking 60 t 90ticks profit pepr each.
So business as usual
spanish, a few weeks/months back werent you saying you saw oil prices going down on the whole? curious why you think we are now nearing the bottom.
Aloha, yeah i was selling oil from all the spikes after 138 t 146,
and sold it all the way down to the mid/high 70s.
But from there to the low 40s i simply intraday/week range traded it.
And now its in the mid 30s itd be ridiculous and extremely dangerous to be selling it at all!
Since if you sell it here what is your target??
lolMid 20s?? $16s per barrel?? The arabs just pumping the oil out the ground and then giving it away for free??
In reality since June there has been maximum 15% drop in the amount of oil people have been buying since they ''NEED IT''!
Not WANT it, they NEED it.
And that average 15% drop was nothing to do with banks giving out ''fewer loans to people''!! lol
Since how many people routinely go out and fill in a creditcard or loan application, got the loan, and then went out and spend it on their petrol???!! :eek:
fractions of a % probs.
So the ''tightening of creditcards and loans'' has actually done extremely little 'directly' to businesses,
but the media, government and public are blaming all the problems of the last 10years on it!! LOL
Ive been down the kebab shop and customers have been saying to them that they are eating less food now 'alledgedly because they cant get loans now''!
They just say ''we dont come here much cos the *credit crunch*'', same as they kebab shop people say ''we make less cos the *credit crunch*'',
I just stand there thinking to myself how ive ended up living on a planet thats full of complete idiots who's brains seem to just no longer function!! HAHA
The ''credit cunch'' has now just become a fucking slogan that every single person in the world is using to blame every single thing on!
Most people havent even got a clue what actually happened in the libor and creditmarkets!!
The only reason that this has caused so much impact on stuff is because on the media!!
They were the 1s who came up with all these slogans,
and so traders all acted according to the media, and the public just believe whatever the media say.
While the word ''crunch'' may sound like a really cool great catchy sorta word to use, and so thats why its become a noun now,
imagine if instead of the term 'cedit crunch', the only phrase that the media had used was ''theres been less loans given out to people by banks recently'',
there would basically have been muted impact on the public.
Since why should anyone even need to have loans in daily life??
You earn your cash, you use that cash to buy stuff, end of story.
The only drop in demmand was caused by the high prices at that time.
Since when oil was at 135 airlines couldnt make much money as profit, and so they had to raise prices for customers, and fly less flights to be using less fuel.
And drivers couldnt afford to live and drive normally with that price, so they would take trains and buses instead of cars lots more.
As all countries had to pay this same high price this happended globaly, and so the amount of oil needed fell about 15%.
However the price has fallen nearly 80%!!!!
So its not hard to see that this price crash is EXTREMELY OVER DONE AND MUCH MUCH BIGGER than the actual real % amount for the drop in demand for oil.
The futures are already showing this as if you want to buy oil for a few months to a few years ahead now,
you are still gna have to pay $100+.
And this is because everyone out there knows that oil price cant and wont stay this low for long,
as so its not a question of ''if'' it will rise again, since everyone knows for a fact it will.
So its simply a question of how high will it go, and at what angle + speed will it rise.
I agree with the bottom call.
We have gone from 145 to 35 in almost a straight line. A pull back at some point is inevitable. Though I don't think we will see a V shape recovery. We'll probably get a double or triple bottom formation (basically, side-ways for a month or so) and form base and go up from there.
Also, January is the beginning on a strong seasonal uptrend for crude oil that usually lasts into July. So we have seasonal positive bias that should help damper further downside.
We have gone from 145 to 35 in almost a straight line. A pull back at some point is inevitable. Though I don't think we will see a V shape recovery. We'll probably get a double or triple bottom formation (basically, side-ways for a month or so) and form base and go up from there.
Also, January is the beginning on a strong seasonal uptrend for crude oil that usually lasts into July. So we have seasonal positive bias that should help damper further downside.
And for anyone who holding longs over weekend you will be in luck when sunday night comes,
since that bomb attack and threat of attacks in middleast down that gaza strip is going to cause a good few dollars rise MINIMUM in oil...
So i would strongly advise anyone who can put in trades after hours to buy oil asap.
since that bomb attack and threat of attacks in middleast down that gaza strip is going to cause a good few dollars rise MINIMUM in oil...
So i would strongly advise anyone who can put in trades after hours to buy oil asap.
Since the usa is a bankrupt country,
they dont have a clue how to sort out even their own problems and so have no chance of solving international ones,
and iran could walk into the white house, smack gerorge bush around the face,
and he would still just smimply sit there smiling a sheepish grin and try making some joke about it!!
USA IS WORTHLESS AND POWERLESS NOW.
aND THEY ARE ABSOLUTELY TERRIFIED!!
With all the economy problems and all the people in usa meant to be terriified and in fear of becoming homless and losing all jobs,
there is absoltely no way that the government is going to step in and do anything even close to threatening the middleast,
since imagine what the impact would be if there was another 9/11 terroris attack again now??!!
Itd tear the entire contry to shreads. lol
The fact is the usa can do absolutely nothing, and everyone around the world knows it.
However iran has every reason to stir up as much as possible in military attacks, and nothing to lose!!
Since they want higher oil price, and so if it takes these sorta events to get it then that is what will keep happening, simple as that.
They have all the oil in that bit of the world, the usa and rest of the world would simply go back to being 3rd world countries without that oil and so will do whatever it takes to keep them happy,
and so because the price has now fallen so low this is what will now happen to rise the price back up.
they dont have a clue how to sort out even their own problems and so have no chance of solving international ones,
and iran could walk into the white house, smack gerorge bush around the face,
and he would still just smimply sit there smiling a sheepish grin and try making some joke about it!!
USA IS WORTHLESS AND POWERLESS NOW.
aND THEY ARE ABSOLUTELY TERRIFIED!!
With all the economy problems and all the people in usa meant to be terriified and in fear of becoming homless and losing all jobs,
there is absoltely no way that the government is going to step in and do anything even close to threatening the middleast,
since imagine what the impact would be if there was another 9/11 terroris attack again now??!!
Itd tear the entire contry to shreads. lol
The fact is the usa can do absolutely nothing, and everyone around the world knows it.
However iran has every reason to stir up as much as possible in military attacks, and nothing to lose!!
Since they want higher oil price, and so if it takes these sorta events to get it then that is what will keep happening, simple as that.
They have all the oil in that bit of the world, the usa and rest of the world would simply go back to being 3rd world countries without that oil and so will do whatever it takes to keep them happy,
and so because the price has now fallen so low this is what will now happen to rise the price back up.
Well, I believe we'll see $25 before we see $50 and am willing to bet on it.
Quote from spanish89:
And for anyone who holding longs over weekend you will be in luck when sunday night comes,
since that bomb attack and threat of attacks in middleast down that gaza strip is going to cause a good few dollars rise MINIMUM in oil...
So i would strongly advise anyone who can put in trades after hours to buy oil asap.
You do know there is no Oil in Israel?
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