I think energy is ready for a bounce

T

Trend Fader

SKF is near the 200sma.. USO is near key trendline support starting from last august. Also USO is close to 200ma. DBC is right at the 200ma. Also euro and aud dollar are way oversold and due for a bounce too.. i think we get a nice 10 point rally in oil over the next 2-3 weeks.

Any thoughts?
 
Do you find it profitable to trade macd divergences?

It feels like stepping in front of a freight train for just a little upside bounce potential (I'm just asking, not judging).
 
Quote from Engine99:

Do you find it profitable to trade macd divergences?

It feels like stepping in front of a freight train for just a little upside bounce potential (I'm just asking, not judging).
More...

I would tend to agree.

And when the MACD finally "kicks" in, the stocks have already moved 15% higher - - - like most of the energy names and oil service issues have in the past 3 days.
 
Quote from Engine99:

Do you find it profitable to trade macd divergences?

It feels like stepping in front of a freight train for just a little upside bounce potential (I'm just asking, not judging).
More...

It works great. It worked on the oil names didn't it? The key is the divergence not the crossover. The crossover is often too late.
 
Quote from Landis82:

I would tend to agree.

And when the MACD finally "kicks" in, the stocks have already moved 15% higher - - - like most of the energy names and oil service issues have in the past 3 days.
More...

Those posts were last week BEFORE the big move.
 
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