Not sure why you are being that way. Don't your charts show this to be true? On the CL?
Is OIL SERIOUSLY undervalued right now??
- Thread starter orbit23
- Start date
Not sure why you are being that way. Don't your charts show this to be true? On the CL?
They probably do. I haven't invested much time in looking at CL for many months. It's de-coupled with equities most of this year and the "value" beaten down energy stocks (while they look tempting) just linger below even 2016 levels.
Sounds like a desperate bull who doesn't wanna sell out of a losing position.
Losing position? Have you looked at the timing of the posts?
Anyways, since SPX dumped, i am not sure about this thesis anymore!!! Oil might very well dump from here! We will soon see!
The setup looked nice, but if it dunps below this months low, i think it's going south. Might SFP and bounce or not do that at all, but i think it's REKT in such case and i am no longer a believer in oil
Also i will flip positions. Oil might soon become overvalued AF. If it's unwise to be long, it's just as unwise to not be short
Correction. Weekly low at 55.3$.I've trailed stop loss to 56$ USOIL. Long till wrong. Drop below, oil becomes overvalued for me and im going short
Yeah alright.
There's a lot of salt in the thread. Were all of you short the oil? Fact is that i've called it perfectly so far, proof is in the pudding, in this thread. 2 absolute best entries right prior to the pump. Now you can make all the fun you want, but oil is up more than 10% since the first entry.
How have i held the winner tight like i said i would? NOPE. Trading it and actually sticking with the plan is on a whole different level!!! Need more time.
Being someone whose in the renewable energy field, I'd baised say oil is on it's way out.