May include oil companies, shipping & airlines.....
Many of them hedged the wrong way & lost so
much money. It should appear in the news.
If what u say is true, it's common.
Always trade small capital unless you
can follow the price 24hrs.
I covered my shorts at 5am Monday.
I knew it was coming.
$67 to $60 band is very strong support level &
held when Greece & Spain had trouble.
Big banks crashed the price when no one was
around on Thanksgiving break. Then they pumped
up the price when unwary investors returned from
the holidays.....so many shorts were squeezed
Seen this kind of price action a lot in the past.
Try shorting CL between 5am to 8am......before premarket
That's when big banks pump up the price the most.
Just my 2 cents.
Under $60 is possible. It dropped
$70 to $20 from 1981 to 1986 using
constant US dollars. Now, china & EU
are kind of slow.
$80 is the level shale investment will be affected.
Goldman thinks $60 is max pain. I'm thinking $70
I plan to go long when MACD on daily chart just
as it crosses the zero line......that could be in
Feb-March of 2015. Then I'll buy CLZ-15 or CLZ-16.
Opportunity of life time.
Expect a lot of sideways action before rising.
Just my 2 cents.
That's according to Bloomberg energy news
I was looking at the weekly chart.
Slow Stochastic & MACD were very similar
to 2008-2009 drop.
Prices may not recover until H2-2015.
I hope I'm wrong.
When people pile on one side, better to stay
on the other side.
Crude tested 76-area twice....76.00 & 76.50
Most importantly, MACD is slowly turning north.
It has to rise above zero-line to be decisive.
32 tanks just entered Ukraine from Russia
according to Marketwatch.
Have no idea what Putin has in his mind.
It is bottoming....Crude will bottom when
Brent hits $80.
That is the level Saudi's will defend. Just my
Yup, the big players can set any price
they wish using any reason. It is amazing
with the excuses they come up each time.
I want to see the API & EIA numbers this week.
Please don't flame on this board....Our objective is to make
money. Fred is a very nice person & his knowledge about
crude is the best I've seen on any board.
Let's have an intellectual discussion & make lots of money
together by pooling our talents.
Thanx for your opinion....agree with
all your points.
Major turning pts take time & just gotta
be patient for year-end rally.
I do believe we will soon see 90 by
EOY & a correction in Jan/Feb.
It will be out of the woods when the price
line goes above the 20-EMA....Also, the
MACD histogram should turn positive.
For Brent, that is very very close.
Do the opposite of what TV says.
They want to scare you.
Look at the chart of Brent...The
MACD histogram turned positive.
WTIC should follow soon.