Kind of an interesting chart, no? Bloody Feds… wonder how much oil is in these western puddles, hmmmmmm?
If you enjoy the content at iBankCoin, please follow us on Twitter
© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy
BTW, Alpha — I just found this question from you on a Fib expo post from a week back… let me see if I can answer it:
[Help me out:…Are you saying that at the magic .618 and .382 things reverse? It seems to me, then, that taken to an extreme, a stock’s price could move, theortically, in such a way as to continually generate smaller, and infinitesimally smaller, “reversals upon reversals” so as to eventually come to a standstill. In effect, the stock would go nowhere, totally confused and frustrated. You get my drift? ]
No, I am not saying that. Think of these lines more as “resting points.” Places where the stock will somewhat naturally “take a breather” either on the way up or down.
This is much like your traditional support and resistance, and in most cases, areas of support and resistance will coincide with your Fib calculations, both up and down. You can even calculate where a stock might stop breaking out by using “fib extensions” which are merely multiples of your traditional fibonacci numbers. For instance… a stock breaking to new highs may stop at 1.23x, 1.38x, 1.50x times and even 1.62x the breakout level, depending on the velocity and volume of the breakout.
Consequently, like in silver today, you can see a stock pass through one line without even pausing, and smack right to the other. This happened with silver today (SLV) which cut right though it’s 50% retrace and stopped almost exactly on it’s 61.8% (golden ratio, very strong) support line.
_
yep, very interesting
Thanks, Jake.
In North Dakota’s case, it’s a real-life ‘There Will Be Blood’:
http://www.cnn.com/2008/LIVING/wayoflife/08/05/oil.boomtown/
http://bittenandbound.com/2008/08/06/stanley-north-dakota-is-newest-oil-mecca-and-boom-town-photos/
It looks like they stop owning cali right about at Bakersfield. phew.
They can have Bakersfield. What a dump.
Jake, do you have any Retail shorts on the radar?
All I have is RTH puts and a small FINL short.
Loving that NLY short!
Cubs —
ANF and DECK are my two faves.
But that’s a long time now.
Does LVS count as “retail?”
lol.
Jake,
If you ever have to hide out when “the big one” hits, you need to be out West, even if the Feds own most of the land. The fact that they own so much “public” land out here makes it easier for someone who wants to disappear, not to be found.
Of course, once in a blue moon, you have to deal with various miscreants, hippies and drug dealers with meth labs tucked out in the woods. But hey, those aren’t obstacles for a Barrett .50 cal rifle and a stash of C4.
You tried something new!! Good for you! I