Quote from TorontoTrader2:
OIH going to 126 1st, bank on that.
JMHO of course!!
It's 127 low in pre market so far...oil thrashed today...
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
call me crazy buying OIH and GLD here
- Thread starter dac8555
- Start date
It's 127 low in pre market so far...oil thrashed today...
Quote from drmarkan:
If we see the opening trading move up to $56.50, this looks like it will be the spot to short intra day. Most likely another testing of the $55.00 level at this point.
Gap down in the morning that trades to $55.10 seems like a v bottom move in the making. Although the first scenario seems more likely to me, these look like the two most likely scenarios to me.
Did not think we would break $55.00 today. Very interesting though. The gap down v bottom was much steeper than I imagined. Of course, I thought we would more likely trade up in the open. Missed opportunity. Oh well.
Quote from davidrousseau:
US Consumes way more than it produces, everybody that produces it hates us, and more oil is being sold in Euros causing countries that buy oil to dump dollars. Seems like a bullish case for Oil and Gold to me.
Buy them when everybody is shorting and telling you to get out (because they are shorting) and make some money after the short squeeze that occurs after the next supply disruption or political crisis. As I've said in other posts, these dips in Oil have ben buying opportunities, and each time, there is doom and gloom. I had to load up a little more at 55/barrel. I'll buy more if it hits 52
Did you pick up more at 52/barrel? The chart still looks bearish, so we need to see the price action hold if the range will form between 52 and 58.
I bought me some USO today at 44.16. I think I can get a good buck out of this trade at least.