Quote from murray t turtle:
==================
Buy lowS , higher lows;
Well it may be a bearish sign, when Citigroup commodity co buys a tanker full of oil.;
when MS & Royal Dutch Shell do[did] it , maybe bullish.
Not sure any elites know oil trading/fundamentals as Royal Dutch does,; possible , but not likely.................................................................
And if USO, & crude got cut in half[again], still looks now like a good risk/reward for a medium or long term trade.
==========================================
Not sure what ''dropped a lot means'' means as you rightly imply;
but measured in many ways, longs have been attractive.
As far as how it works, not a prediction;
more so on technicals , psychology & looking ahead than fundamentals.
Maybe your right, Murray. Maybe going long oil would be profitable here.
I always think in macroterms, and can't trade my way out of a paper bag.
I honestly believe a few, select people can make money consistently trading, whether its natty, stocks or oil, and the rest of us without that exceptional talent will only drive ourselves to bankruptcy, insanity or both.
But maybe short @50 and long @30, as someone said, is 'proper,' at least for a while.
Or maybe the cluster that is the global economy takes out $25 soon.
Only the brave or foolish brave these waters.
