This week we wanted to look for speed, no?
Two attempts made this week to sell, and yet the market was slowly walked lower. I was thrown off at first as to why we opened flat yesterday morning, but now its become pretty obvious.
Speed should serve as a testament to where the pressure lies.
I think we’re done for the day here, all systems go.
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
If you haven’t recognized how much of a BOSS Jeff is in the past several week, and Today proves it all. He has called this bit 100% on all levels. If this doesn’t get you to realize the value in being a part of either his trading group or After Hours… or both! You will make so much more $ then what it costs! Do It. Amazing work OA!!!
+1
Thanks Comella
+2
Straight murdered it!
VWO – Chinese Burritos +10% in October.
This is all I need to know.
Well done Jeff. Even I can’t wait for the conference next week.
Dude, can’t wait to #conferenceandchill with ya bro.
Re: Oil. Think like a criminal for a moment. Oil was walked up to yesterday’s close; a time before anybody knew what the API & EIA numbers would be. The market reacted. Now you are the criminal dealer. You set an Algo that barring a black swan event that disrupts oil, you get to short from this same level with the knowledge of the inventory numbers. Plus you got to run the stops of anyone who doesn’t bother to check the implied volatility. A win/win. That is why I am maintaining my short. With the profits from my UWTI hedge today, I can take a 6% loss on my short & breakeven.
Also everybody got to feast today!!!!!!
Let’s get one thing straight. The market is and has always been, controlled by crooks. It is your job as an individual investor to figure out what the criminals are going to do prior to them doing it.
As for your thesis, everyone knew the API results prior to today’s EIA numbers. You could have predicted the movements today with little effort considering oil is down 10% from the peak last week. Congrats on your UWTI hedge. Shorting against criminals that somehow make the market rise annually, is not a good bet, IMO. Perhaps you should change your bias.
If I get stopped out I get stopped out. I am playing for the break. We went down about 3% and up about 3%. That’s what the volatility told me to expect. From my perspective, nothing was proven today. Just more consolidation. 11.47 was ticked after market close. If we gap up and go, I’ll likely get stopped at break even. Then I’ll start buying dips on the long side with the idea that we break out of the range to the upsisde.
+3
Impressive reading of market entrails these past weeks OA!
Thank you
Yes, impressive. I wish I kept the faith a day longer….sold LABU yesterday under 16…
unparallelled greatness
I challenge iBC to post YTD results. Net.
+28-30%.