CL Redux

[HuggieBear]

nothing is more manipulated than crude.

it is all herd mentality.



what im coming to realize is that if you have the cojones to stick to your convictions, you will eventually be rewarded.


For example, I agree with you on $72. I would be shocked if we don't see $72 at some point in March. (if not before).

However, it is going to take some serious staying power to withstand the fluctuations on the way.

 

[HuggieBear]

they aren't going to be satisfied until they push this well above 80 and force me out of my position

 

[schizo]

There's a similarity between today's price move and the one on 1/8, no? Kinda? Not even a little bit? Aargggh!

I'm betting that there is.

 

[schizo]

ALERT: DOUBLE-BOOB FORMATION IN THE MAKING (on the 5-minute chart)!

 

[schizo]

Out 79.99

I end the day with a concussion after being banged up so much.

Quote from schizo:

Last short 79.80

 

[HuggieBear]

I am going to hold overnight.


This is hogballs.

 

[BPtrader]

Quote from HuggieBear:

I am going to hold overnight.


This is hogballs.

trapped again? be careful, they may run it into $85. If today's inventory number failed to bring it down, some serious short squeeze will happen tomorrow. That's why I took a $1000 loss today.

 

[schizo]

Quote from BPtrader:

trapped again? be careful, they may run it into $85. If today's inventory number failed to bring it down, some serious short squeeze will happen tomorrow. That's why I took a $1000 loss today.

The inventory number came in less than last week's number (from 3.08M to 3.03M) so why must it go down? As I see it, it went up as it should have.

As far as where we'll go from here, it's hard to say for now although I'm slightly more bearish than bullish. Of course, if we break above 81, all bets are off.

 

[schizo]

Quote from schizo:

The inventory number came in less than last week's number (from 3.08M to 3.03M) so why must it go down? As I see it, it went up as it should have.

Just in case you have a comprehension problem like me, here I mean the market went up as it should have after the inventory number came in less than previous week.

This is Econ 101: Lower the supply, higher the price of good.

 

[oraclewizard77]

I guess you did not get the memo that oil is running out, the sands of Saudi are running dry, I don't know what oil will be on Thurs, but don't be surprised at $ 200 in 2 years.

Quote from HuggieBear:

I am going to hold overnight.


This is hogballs.