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Post by huh on Nov 28, 2014 14:35:35 GMT -5
In the bottom range now. Under 64 and things would get really spooky. Um like TSLA would dump since who would need electric cars? Actually, this oil dump should help GM & F. Both confirmed a squeeze of topping patterns with today's closes. As of Wednesday's close, both were still within those bearish patterns. What are the odds that both would break topping patterns on the exact same day? There's a squeeze a'comin' (again) JMHO
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Post by clinton on Nov 28, 2014 15:14:21 GMT -5
oil market drops seem worse than 2008
LNCO dropped 18% and they are 100% hedged till next year WTF is going on?
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Post by clinton on Nov 28, 2014 15:18:07 GMT -5
two charts to think about
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Post by clinton on Nov 28, 2014 15:18:43 GMT -5
and
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Post by maxi on Nov 28, 2014 15:42:46 GMT -5
oil market drops seem worse than 2008 LNCO dropped 18% and they are 100% hedged till next year WTF is going on? One thing is SDRL eliminated it's dividend. So the fear that LINE and LNCO will too is permeating the blogosphere. See this article ( seeking alpha and you know how great they are (NOT) seekingalpha.com/article/2710275-linn-energy-fears-of-a-distribution-cut-are-way-overblownThe thing is if you believe this drop is unwarranted then you should be buying some shares here and adding if it falls further. IF on the other hand you are simply going by what the chart has done in the past - well --- good luck with that. awealthofcommonsense.com/whats-effect-oil-stock-prices/ For the most part tho everything returns to the mean. Sure Oil could fall to 35. But really what are the odds of that? Oil /CL was being bought this afternoon by smart money.... www.optionjesus.com/recent-flow.htmlCheck out this site and check out this guy @wallstreetjesus on Twitter. Also check out @hedgebound on Twitter. I am not trading right now but I am getting a phenomenal education from these 2 guys and also Marketchess.
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Post by huh on Nov 28, 2014 16:12:42 GMT -5
JMHO, but this isn't the drop in oil to be concerned with...it's the next drop (after a bounce) that will blow people away.
At least it should bounce to fill this gap (USO, XLE).
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Post by maxi on Nov 28, 2014 19:07:56 GMT -5
Well I was NOT the only one to misread this part. $CL is Colgate-Palmolive ! But the rest of what I said still stands!
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Post by jacksrbtr on Nov 28, 2014 19:11:59 GMT -5
JMHO, but this isn't the drop in oil to be concerned with...it's the next drop (after a bounce) that will blow people away. At least it should bounce to fill this gap (USO, XLE). ITMS went long the USO today fwiw.
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Post by clinton on Nov 29, 2014 12:35:25 GMT -5
Oil in storage MUCH higher than last year
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Post by walnut on Nov 30, 2014 18:32:23 GMT -5
Holy crap oil futures are falling through the floor.
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Post by walnut on Nov 30, 2014 18:37:35 GMT -5
"Peak oil" was a myth. Just like Global warming, among other liberal myths. Despite their great insistence 2 years ago. But there is no accountability. Unless they were holding oil futures haha
Peak oil might come one day in the distant future, or maybe not.
I read on a message board the other day some guy who said he lost on his first attempt at bond futures, so he's scared of them now, he's sticking with CL (oil futures) LOL A fool and his money were really lucky to come together in the first place according to Gordon Gecko.
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Post by walnut on Nov 30, 2014 18:52:54 GMT -5
I heard many times on CNBC that oil was due for a bounce now. You truly cannot trade on that kind of opinion bullshit.
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Post by huh on Nov 30, 2014 18:58:26 GMT -5
CNBC should be saying to short it in the morning. Low so far only 3 cents away from the bottom of the buy range.
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Post by maxi on Nov 30, 2014 19:56:22 GMT -5
/CL is massively oversold even on a weekly basis. They always do this. scare the crap out of retail traders who panic and sell at the lows or near the low. I remember staying up half the nite sick because of not understanding the futures.... and panic selling at the opening bell.... yep those were the days.... NOT. I like that gecko quote about a fool and his money.....
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Post by huh on Nov 30, 2014 20:09:45 GMT -5
Bottom of range in the chart I posted was 64.14. Low so far is 64.13.
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Post by jacksrbtr on Nov 30, 2014 21:03:15 GMT -5
/CL is massively oversold even on a weekly basis. They always do this. scare the crap out of retail traders who panic and sell at the lows or near the low. I remember staying up half the nite sick because of not understanding the futures.... and panic selling at the opening bell.... yep those were the days.... NOT. I like that gecko quote about a fool and his money..... Gordon Gekko: "You're walking around blind without a cane, pal. A fool and his money are lucky enough to get together in the first place."
That one?
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Post by sloop on Nov 30, 2014 21:09:04 GMT -5
I heard many times on CNBC that oil was due for a bounce now. You truly cannot trade on that kind of opinion bullshit. I NEVER turn them on. They are GARBAGE! When you listen to them you can tell they don't know what the hell they are talking about 80% of the time. Its almost criminal
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Post by huh on Dec 1, 2014 8:16:55 GMT -5
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Post by huh on Dec 1, 2014 8:54:43 GMT -5
Bottom of range in the chart I posted was 64.14. Low so far is 64.13. Oil made a slightly lower low overnight (63.75), but looks as if it could be putting in a pivot bottom. Even a dead cat bounce (or right shoulder) could get it as high as ~87.00. But there are many near term resistance points in between here and there. The first of those sits around 67.35-68.50.
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Post by clinton on Dec 1, 2014 11:03:35 GMT -5
oil at 67 now
I think institutions like this price
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