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Short Term Top in Oil
- Thread starter areyoukidding?
- Start date
Okay. Just a reminder of the call last week. I still think we have further to go. I am looking for oil to break $60 soon.
What a call, hope you are all long equities against it this week. keep it up.
Wish i traded the commodities at times like these. wowee!!
A classic "all the people bull on that one" and we set a top situation?
IM thinking on that, anyway im thinking in going long at some point, not sure yet where. Im watching this zone 62-3 and i like but i dont want to get caught in a major top and stopping out.
I'll see, anyway, i think bull masses on oil will give us another leg up, the point its from where ¿? 62-3 , 60-1 or 56-57 even if we move into a 56-57 / 70-71.
Im thinking on those levels because all the world are bull and talking about crazys prices (of course i know there is no crazy prices on the market , just a way to say...) and in the whorst moment (with the hurricane happening) we didn't cross that 70.70-90 level so, its hard to figure out the QM going huge after those levels on better news than that.
Anyway in markets the best trader is the one that knows he didn't know anything...
IM thinking on that, anyway im thinking in going long at some point, not sure yet where. Im watching this zone 62-3 and i like but i dont want to get caught in a major top and stopping out.
I'll see, anyway, i think bull masses on oil will give us another leg up, the point its from where ¿? 62-3 , 60-1 or 56-57 even if we move into a 56-57 / 70-71.
Im thinking on those levels because all the world are bull and talking about crazys prices (of course i know there is no crazy prices on the market , just a way to say...) and in the whorst moment (with the hurricane happening) we didn't cross that 70.70-90 level so, its hard to figure out the QM going huge after those levels on better news than that.
Anyway in markets the best trader is the one that knows he didn't know anything...
i think we are in a long puke out. if i was in the commodity i would buy 1/3 to 1/2 of my position right here.
Quote from areyoukidding?:
i think we are in a long puke out. if i was in the commodity i would buy 1/3 to 1/2 of my position right here.
good call on the oil pullback,
am also picking up more longs but have also picked up shorts getting ready for the bull oil move.
If you don't mind, what is your background in trading. Where do you look or receive most of your data.
ps - keep on threading,
w
Thanks, man. I'll try to continue but really you should check my website for most things. I will taper off here.
Quote from areyoukidding?:
Thanks, man. I'll try to continue but really you should check my website for most things. I will taper off here.
could you please let me know your web page would love to check it out.
also one of the reason I believe oil will rally again we are in the middle of hurricane season usually ending here in Nov.
Oct/Nov being the worse.
i sent you a pm, i dont want to reveal anything on this site about methodology, etc.