It gained some/little value again, but too soon to tell, will make my "final" conclusion by the end of the next week. Still hoping to jump on the BUY side.
Can you afford to take that chance?
- #6,821
- Mar 19, 2020 10:57am Mar 19, 2020 10:57am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Can you afford to take that chance?
- #6,823
- Mar 19, 2020 12:14pm Mar 19, 2020 12:14pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
i don't trust this move up. i don't think the fundamentals are there to sustain a wti rally. fully expect it to slump back within a range. hope it doesn't break below 20 though
And then, if all goes well, am preparing to jump on the UP train.
Can you afford to take that chance?
- #6,824
- Mar 19, 2020 1:25pm Mar 19, 2020 1:25pm
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
{quote} Yeah, although I would to BUY it, not convinced myself either, will still wait a little, this week at least and like Mon, Tue of next week, at least
4&1 All Time Profit:
$37,496
- #6,825
- Mar 19, 2020 1:27pm Mar 19, 2020 1:27pm
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #6,827
- Mar 19, 2020 1:42pm Mar 19, 2020 1:42pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Have begun loading some long term buys.. Couple of bullish H1 candles to get us going.... But thoughts are the bottom isn't in place yet till we get a bullish daily close..... But let's see.... {image}
It seemed like it would never end. At this rate it seemed like they will be paying us money to put GAS in our cars Since RU (and Saudis) basically said... they can give it out for nothing, indefinitely.. like "game" on... "game, set match" meanwhile there were talks in the US about federal help to shale... So we will see soon I believe... The oil business is bad for poker, because someone has to pay soon, too big of a market right.
Can you afford to take that chance?
- #6,829
- Edited 2:03pm Mar 19, 2020 1:49pm | Edited 2:03pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
wonder what caused that spike.
I mean, if someone would told me a few months ago that the price of WTI would be TWICE as it is now, I would think this guys is nuts... Total shocker... Awaiting BUY power There is lots of money to be made out of this mess, just awaiting the right opportunity to start buying + seasonality (historic) speaks in favour of the rise...BTW OIL industry represents about 4% of GLOBAL ECONOMY
It is not something one can play for a long time...Like they used to say what Bill G. could buy with his private fortune... When you put it into the OIL industry scale... not much
It is something to play dumping prices with some less significant goods, but no one can mess with the oil for long...
We are talking trillions, "bilions are for poor people".. in the oil industry
https://oilprice.com/Energy/Crude-Oi...-Combined.html
Or think of it this way... Gold: $170 billion, OIL: $1.7 trillion per year ;D (at the prices at the time of the article).
Some perspective, ratios at the time of above article:
So my "conclusion" is that this can not last for long without serious consequences.. so it either gets solved fast or permanent changes will happen in the world, in the balance of power..
Therefore, there is a lot of money to be made! Just need to find the right BUY entry and the ride LEVERAGE to get most of the, hopefully steady rise... The steadier, higher the leverage can be..
They bluffed the price down too low... Yeah, corona is a heavy component but still...
Can you afford to take that chance?
- #6,831
- Mar 19, 2020 2:03pm Mar 19, 2020 2:03pm
- Joined Jul 2007 | Status: Trader | 17,796 Posts
here come the bears again
COT: The precious data ignored
- #6,832
- Mar 19, 2020 3:30pm Mar 19, 2020 3:30pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Let the bears come, so i can add more longs
Hope it will be LONG Can you afford to take that chance?
- #6,833
- Mar 19, 2020 6:11pm Mar 19, 2020 6:11pm
- | Joined Apr 2008 | Status: Trader | 1,312 Posts
{quote} I would think in opposite direction... Who's hand/bluff was called (first)
- #6,836
- Mar 20, 2020 2:42am Mar 20, 2020 2:42am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
Resistance @ 26.30
COT: The precious data ignored
- #6,837
- Mar 20, 2020 2:42am Mar 20, 2020 2:42am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
{quote} I think some will retire from this mess
COT: The precious data ignored
- #6,838
- Mar 20, 2020 4:13am Mar 20, 2020 4:13am
We have an upward sloping volatility curve on Oil on the weekly option contract for the 1st time in a very long time. This is bullish oil as the market is pricing Calls higher than they are pricing puts ie the market makers expect the market to go up and are trying to discourage Call buyers.
25 Deltas are have a positive slope:
Note though that the monthly option contract is still bearish. So at the moment they expect prices to go up for this week atleast.
25 Deltas are have a positive slope:
Note though that the monthly option contract is still bearish. So at the moment they expect prices to go up for this week atleast.
Boxing clever since 76.
- #6,839
- Mar 20, 2020 4:18am Mar 20, 2020 4:18am
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Resistance @ 26.30
{quote} I want prices at 50 dollars
Well the price just flew over the resistance of $26.30 and we don't need a price of $50 to make good profits
- #6,840
- Mar 20, 2020 5:14am Mar 20, 2020 5:14am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} Such cheap prices is good for our porftolio
But if it goes as it goes... it seems like a no-brainer BUY atm ;D STRONG portfolio tip, yes, epic opportunity that we have been waiting for YEARS... I mean do you remember when it was 100USD+... I do.. crazy... It is cheaper than water now
Can you afford to take that chance?