Crude Crushes Supply Level

It’s never easy to see oil stomp on somebody, and force the waving of white flags. However, at times we all must wave the white flag, otherwise we’d be faced with becoming and OWS protester. Nobody wants that, unless you’re into sleeping in tents and not showering that is. The next stop for oil as I see it is $112. We hit our supply level and turned down for a total of one whole day before it punched oil bears square in the nuts.

MCK is holding up and we may not fill the gap before moving higher. If so this gap looks like a good place to play a bounce on the way back down. My first target is $96, although we may see $114 longer term.

Not the market today, ME. This is the first time I’ve checked what’s going on all day long. I see i didn’t miss anything spectacular. The turkey gods must be lying in wait, like a hunter, to put a bullet in a bears head. Truth be told I don’t much care at this point. All I care about is shaking this illness as soon as possible. The last little bug I caught was no match for my superior immune system and lasted a mere 6 days before I grew tired of it’s menacing presence and expelled it from my body. This one too, shall perish in flames.

“Romney’s an attractive candidate in many regards, but in the midst of an economic crisis, it’s impossible not to overlook some of the misconceptions he propagates.”

A good article by Cullen Roche. Nice to see that i’m not the only one that threw a fit when the statements equating The US to Greece and Italy were just flat out wrong.

Click Here To Read Cullen’s Article

Red prices are areas of selling interest, green areas are buying interest. These are weekly time frame supply and demand levels.

It was November, not long after WorldCom went belly up, but the stock was still traded publicly. I remember sitting at my desk at work staring at that chart, for hours. I was dead set on trading a bankrupt company and make fucking money doing it. I wasn’t going to do it lightly either like some sissy. At this point I don’t remember the exact number of shares I purchased, but it was in the thousands. What did I pay for them? 10 cents. What did I sell them for? 20-25  cents. Why? Seasonally WorldCom saw a flood of buyers in the month of November. Even while bankrupt, the well didn’t run dry. The Turkey Gods are real and you my find yourself on the receiving end of beaks in your eyeballs, pecking away mercilessly.

In previous posts I’ve discussed the difficulty of FX and a few quality resources resources for education. This is one tool I use, not very often, but it comes in very handy for trying out new ideas and strategies. Any time you want. This is also a good alternative to live demo accounts as you can trade when you like and over a time span of years in just hours if you really put the hammer to the nail. Again, this is my unpaid endorsement. To prove so I’m not going to provide a like that way be deemed suspiciously as an affiliate link. Do yourself a favor and Google “Forex Tester”.

We reached my 1.3525 level of buying interest. I bought off the bounce and now we’re lingering around. It’s a small position, one i’m not worried about losing if that’s the end result. Call it a lottery ticket if you will….

The notion that China is using USD to fund it’s military is absurd. Remove USD from that equation entirely and I guaran-fucking-tee China continues to fund their military with any dollar amount they so choose.

For the love (Pick Your Higher Being), when are these people (Politicians In General) going to realize the US and EU monetary systems ARE NOT THE SAME FUCKING THING. It’s like comparing apples to fucking oranges.