don't see this topic debated much here, one could reasonably believe its imminent altho the press mostly ignores it; i have a relative in israeli politics who says the thinking there is to unilaterally attack while W is still president to obtain some support before the one named hussein takes office; you have to see this like they do; u hate to think like this but then again, price of oil would probably triple and i gotta make some $$ back; all i'm saying i guess is i'm going in on OIH despite the trend right now . . .
We should get another chance to load under lower 80s again. 80 seems to be good support for OIH. But if it breaks, we will see 60s. Just be careful to accumulate. Got to play smart by taking advantage of such volatility.
This is something I was concerning... but the technical says that crude is on its way to 60s. I tried hard to be more patient but still could not resist buying some DXO under $6 when crude drop below $70 today. Crude can explode 20 bucks overnight. I need to have some shares ready. But I will be very patient to load large position.
I think that my trading program using IB API will work fine for crude with such volatility:
1) Buy 1x sell 3x crude at 70+ 2) Buy 2x sell 2x crude at 60s 3) Buy 3x sell 1x crude at 50s ....
Look like crude is closing its bottom. I plan to build a very large position for crude as I did one years ago. I think that crude is going to explode very soon.
GS downgrade for crude is totally a BS as he did when crude was near its top