Oil: I call short term bottom right here
- Thread starter Rearden Metal
- Start date
Yes.
Quote from BCE:
Oh, that's interesting. Any idea where to access that article? I'd be interested in reading that. Always enjoy reading about fellow traders. Especially successful ones. That's why I like Schwager's books.
I don't think thorn wants me giving out his real name.
Sorry, but you'll have to ask him...
Quote from BCE:
Oh, that's interesting. Any idea where to access that article? I'd be interested in reading that. Always enjoy reading about fellow traders. Especially successful ones. That's why I like Schwager's books.
BTW, this may seem surprising, but Market Wizards 1 & 2 are the <b>only two</b> trading books I've <b>ever</b> read cover to cover! (Not counting series 7, 55 & 63 study manuals)
Yes, that means I even put down Reminiscences (about half way through). That doesn't mean I'm lazy about research- I do an hour or two of market research, plotting & planning, every day after the close. More time than that in earnings season.
Just an unusual little personal fact I thought people would find interesting.
Oh, that's interesting about Market Wizards. I really like these books, even Stock Market Wizards which most people think is the lesser one. But I like it a lot too. As far as the research, I intuited that just from the trades you call. They obviously don't come out of nowhere. Thanks for sharing.
As far as the research, I intuited that just from the trades you call. They obviously don't come out of nowhere. Thanks for sharing. 
I've been calling this thread the turm"oil" thread. The bounce today was on relatively light volume. I posted this yesterday on another thread. (Was trying to avoid the crossfire here )
Also OPEC said they would consider cutting production if crude dipped below $60 a barrel so there's alway the chance they'll come out at anytime and announce something along these lines. I noticed, yesterday especially, a real struggle for this to dip below the $61 mark. Just watching the tape it seemed like some people are already unwinding some of their short positions so they don't get trapped by any potential and probable short squeeze.
)Also OPEC said they would consider cutting production if crude dipped below $60 a barrel so there's alway the chance they'll come out at anytime and announce something along these lines. I noticed, yesterday especially, a real struggle for this to dip below the $61 mark. Just watching the tape it seemed like some people are already unwinding some of their short positions so they don't get trapped by any potential and probable short squeeze.
BTW, before the envious loser brigade jumps on my supposed 'inconsistency', I found out a lot more information about thorn in the days since I wrote this post:
Quote from Rearden Metal:
Wow... I got 'stream & Austin to <b>agree</b> on something.
Rubberbird/thorn has some serious trading talent. I'd bet a nice tall stack that he makes at least 6-figures/year. No joke.
I'm not saying he's one of the most mature or polite ET members... but I <b>am</b> convinced he's one of the top earners here. Look past the personality, because talent is still talent.
