3 thumbs down. Oh come on, you can do better than that! Give me 20. Why be haters? I'm just proving that a Trader can make money and that it isn't just luck.
Oil slips on this news; "The Organization of the Petroleum Exporting Countries on Monday said there is “no quick fix” for the low oil-price environment.." Oil futures are now down 4.5%.
Maybe tomorrow we can get a dramatic reversal again to save the day. But if not?
Although lately NMM has totally ignored the BDI and has traded instead with oil. I should get 20 thumbs down for that obvious observation though.
I get so tired of people telling me that Traders over the long haul LOSE. That's a load of donkey dung!
I told you ahead of time that NMM was going to drop with oil - and it did. I told you ahead of time that NMM would reverse and go up when oil did - and it did. Now I never know the length of the moves, but I do know when they start.
Then there are the 2 50% stock market drops that as a Trader I profited from instead of losing money as the buy and holders did. Not only that - I got to buy stocks for pennies on the dollar at the lows. And if there is another 50% drop - I will again be making money.
My secret is that I ignore the gurus and do my own hard work.
Then I've been awfully lucky!
But then I believe that "Random Walk" theory and "efficient markets" are total myths!
Also I have zero faith in the Fed or governments.
Trading is hard work that required dedication and persistence - not a crystal ball.
For example - what about the current relationship between NMM and oil. I had to identify it verify it and then apply it.
Is or isn't NMM following oil?
Everyone gambles - even Longs - it's just we Traders admit the truth. And admitting that truth has allowed we Traders to make a fortune while the Logs are still just hoping to get back to even.
Well Seiden at least stopped SCEI from declaring bankruptcy. Now we are back to the waiting game to see first - if he can recover any assets. And then if after his mile high stack of fees - investors get anything.
Here is the news: "Saudi Arabian ground troops entered northern territories in Yemen in a move to counter retaliatory attacks by Yemeni forces on Saudi soil..."
War always causes oil prices to rise. Some say the news is only a rumor. I guess Monday we'll find out. But the war is escalating in Yemen, oil should continue to surge pulling NMM with it.
Just can't get anything right can I? Mi cabaza es vacío!
Contango is a dance done with someone else. Tango con tu hermosa? I normally ask based upon the shape of the features that curve. If they aren't the right ones, then there is no future. A senorita has to have the right commodities for me to get interest in their exposure.
DBC - Donde Bailar Conmigo?
WOW looks like only 2 Longs read my post and 3 Shorts who gave me thumbs down. Well how was that 12% hit today Shorts? And congratulations to the Longs who made 12%!!!!
I hear you. That is why I remain skeptical as always. Until I actually see the Chinese take the side of US investors in one of these micro-shell scams against their one of their own - I'll remain a disbeliever.