yea at the time i was in half of a position but sold out a 1/4 of that for a profit, do I actually have to go into detail about every single trade I make, right now im in on avg around $33 a share, and like I said I will most likely be buying more under $25. Simple as that, oil is going to correct, oil stocks are going to correct, commodities are in a bubble, Im long DUG, SMN, DEE and DCR for the 100000th time.....see where the economy is in 6 months after oil just keeps climbing away, its going to do alot of psychological damage to consumers spending habits, just watch and see what higher oil prices do this economy when everyone in the US is paying more than $4.00 for a gallon of gas and $4.00 for a loaf of bread....
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Wall Street and oil prices.
- Thread starter sttrader
- Start date
yea at the time i was in half of a position but sold out a 1/4 of that for a profit, do I actually have to go into detail about every single trade I make, right now im in on avg around $33 a share, and like I said I will most likely be buying more under $25. Simple as that, oil is going to correct, oil stocks are going to correct, commodities are in a bubble, Im long DUG, SMN, DEE and DCR for the 100000th time.....see where the economy is in 6 months after oil just keeps climbing away, its going to do alot of psychological damage to consumers spending habits, just watch and see what higher oil prices do this economy when everyone in the US is paying more than $4.00 for a gallon of gas and $4.00 for a loaf of bread....
Face it, you have been caught in a LIE.
You post nearly 20 times a day on ET and you somehow forgot to tell everyone here that you sold out of 1/4 of your position for a profit?
If you actually had 1,000 share positions on all of the ETF's that you said you purchased back on April 2nd, you'd be down over $30,000 in just the last 6 weeks . . .
If you are actually trading, I would suggest that your inability to be able to identify a TREND is downright scary. Your lack of using stop-losses is downright pathetic.
You post nearly 20 times a day on ET and you somehow forgot to tell everyone here that you sold out of 1/4 of your position for a profit?
If you actually had 1,000 share positions on all of the ETF's that you said you purchased back on April 2nd, you'd be down over $30,000 in just the last 6 weeks . . .
If you are actually trading, I would suggest that your inability to be able to identify a TREND is downright scary. Your lack of using stop-losses is downright pathetic.
All of this talk of the street using alternate exchanges to run prices $30 to $40 away from the "true" fundamentals is like listening to a conversation about "cold fusion."
It is an interesting concept. But once you get into the details, no one can really fully explain how to execute it.
I agree that NYMEX speculation can affect physical oil prices. Analyst reports - where the analyst is perhaps "talking his book" or his firm's book - can have an impact.
But the claim that manufacturing higher openings by using alternate exchanges can move prices $40 away from "true" fundamentals?
I can not buy that.
It is an interesting concept. But once you get into the details, no one can really fully explain how to execute it.
I agree that NYMEX speculation can affect physical oil prices. Analyst reports - where the analyst is perhaps "talking his book" or his firm's book - can have an impact.
But the claim that manufacturing higher openings by using alternate exchanges can move prices $40 away from "true" fundamentals?
I can not buy that.
I would tend to agree with "Trump-Baja" above. At the end of the day, the HOW and WHY doesn't really help you make any money . . . it really is like talking about the concept of cold fusion.
The bottom line is that $185 BILLION DOLLARS is in managed futures . . . If a large part of that money is chasing a strong uptrend in a GLOBAL commodity, then so be it.
As Traders, we shouldn't really give a rats arse about the HOW or WHY. We simply have to identify the TREND, and trade accordingly.
I mean, isn't that half the battle in trading . . . identifying the TREND ???
The bottom line is that $185 BILLION DOLLARS is in managed futures . . . If a large part of that money is chasing a strong uptrend in a GLOBAL commodity, then so be it.
As Traders, we shouldn't really give a rats arse about the HOW or WHY. We simply have to identify the TREND, and trade accordingly.
I mean, isn't that half the battle in trading . . . identifying the TREND ???
Quote from S2007S:
damn, do you not understand, I said I bought it twice, 36 handle and 29 handle, im not lying.
My avg is around $33 a share. Why would I make this up, im going to avg in all the way down to $20-23 range. I have 50% of a position out of a 100% I want to buy into DUG over the next few months, if DUG jumps to $35 im selling my whole position, simple as that.
I also own SMN, DEE and DCR,
what else do you need to know...
nice risk/reward...holding a 6 point loser to try to make 2 points.
Quote from Ivanovich:
Our government is notorious for being "Behind the Curve". Shouldn't shock anyone that they're coming to the table now.
they will come to the table with a vengence,
already a number of countries are inacting
1) protective restrictive trade barriers to aussuage their populace after riots over food prices out of control
2) price controls to prevent further rises out of the reach of their peasant citizenry
3) protective and restrictive export controls so as to prevent over production from contributing to the global marketplace and stranding their own citizens into starvation. Rice is the recent example.
we did these thing under Nixon with price controls and wage controls....whether it worked or not is not the issue / discussion
action is the issue, whether late, later or utter incompetence on their part, as is the case with these many years late actions that are planned
something will need to be done to restore balance and break the will of the Goldman Sachs of the US who keep issuing blanket statements of higher and higher oil, directly and more blatently to their benefit than the oil companies have been doing in their hidden manner
someone is going to reap the world wind on these frustrations.....
wonder which company now?
wonder which industry now?
even Rick Santelli on the CME floor, kept saying not to slay the speculators and traders regarding the rising public frustration with this obvious market manipulation and artificial inflation to the price of oil
Japan attacked us at Pearl Harbor over these same issues.....
what does an average American citizen do? call his Senator?
Quote from Ivanovich:
I guess we can agree to disagree. But I believe the government SHOULD exist to protect the greater population. Now, the problem is that it selectively chooses when to do that.
uh, let's see:
1) Katrina
2) Gasoline above $2.85, and still no word from the Bush II Administration as it peaks toward $4.85....
3) Subprime mortgage collapse and hundreds of thousands of foreclosures and preforclosures, so much so that entire counties across the US have more filings than they can adjudicate in the next six months, thus clogging the courts needlessly
4) Bear Sterns bailout,,,
hmmmmm
see the common thread here?
Conservative Republican-ism / Supply side economics at work.....
hey, brings to mind that often bandied about phrase:
4 more years