Just an observation, as I am not overly concerned with who owns what, but I have noticed in the last few days that many have taken to the keyboard to attack the idea of higher oil.
Oil prices in the high 40’s, nobody cared. Oil prices down 10 of the last 13 days, its getting louder the lower it goes.
Again, I won’t debate all the things you’ve read about oil and where it is going. I prefer just to sit back an monitor sentiment and behavior.
This chart illustrates a relatively thin profile below. We’re on the edge right here. Naturally, a fine place to ramp up the discussions of how low oil will fall.
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C’mon OA join me on the dark side of oil! I am loving your Russell BTW.
Won’t argue your posture man, appreciate the play-by-play as well. Very well done.
OA, maybe the solars are worth looking at since they’ve been beaten up as well?
Not til energy finds a floor.
Well played on the short side nocturn. The way I see it here is that $WTIC is already in the “thin zone” after yesterday’s breech and there is no turning back now until lower prices are reached. As such, there is no way I would be even thinking of buying a triple leveraged oil (uwti) here. OA got this one wrong a couple of weeks ago but so what. He has nailed the general market direction to a T. Can’t win ’em all OA, but you’re batting damn close to .900.
Stay far away from uwti for now
It is an interesting dynamic here in that the bear’s noise is getting louder at lower prices, but that profile is also wide open. I am over-exposed to oil and can’t take on another share of risk at this point, but I agree that from a sentiment perspective it seems like higher prices is the less popular perspective and the one I’d choose to play if I was starting something new. I will give you credit, nocturne, as you were talking lower prices from above. So you can stay on your high horse at these prices!
All I know is stocks that benefit from low oil are getting creamed today. $JBLU $SAVE $TA (I own TA, of course).
I don’t get why getting creamed,,,, should benefit/higher,,,, ??
Tom – I kind of understand the airlines since capacity and pricing is such a huge issue. But TA baffles me man. Look at MUSA and CASY for example. Valuations are so far off its kind of silly.
You should look at EMES, BAS, SLCA, etc…oil service sector getting blown to bits too
EMES is going to 0 in my opinion
OA, you sitting tight with your $UWTI position with $CL at support? I’m in $UWTI from $9.15.
yup..in it higher..looking to average down
OA – Are you riding AAPL calls into the close? A lot of selling in the name over the last couple of days.
Yeah, Nov.
RE: IWM purchase…
OA, since I believe you expect growth to continue to gain on value over next couple years (98 thesis), would you consider IWO to add any value over IWM?
I like growth over small caps. IWF
The $WTIC thin zone, ladies and gentlemen
http://schrts.co/52wYN1
Not good to pause here.
Agree OA. Powers want oil lower and lower oil shall be had. Have some exposure to the short side here just because of the thin zone. I very much like the odds
Note that the MACD has only just now crossed down and has a lot of room to run down.
This market is a horror show
Looks like YCS is the play
Why?
Looks like the dollar is breaking out here.
I should say trying to break out.
DWTI bitches! From 80 to 130 last few weeks and much more to come. Parabolic!!!
lol
Unfortunately I don’t hold a single share of DWTI. lol
Me either
I appreciate Sybil’s honesty!
UCO (2xbull oil ETF) broke support on Friday of last week and was the signal to get short oil. It has been my guide for oil trades. Confirmation follow through yesterday was signal to add to short bias. Today’s drubbing in oil sealed the deal. CONCLUSION: OIL HEADED LOWER. GAME. SET. MATCH.
I’m long $UWTI. I see a clear weekly head and shoulders on /CL. I also see, however, too many guys like you who are short oil.
Combine that with a nice little weekly bull channel nobody sees, as well as hitting a 61.8 retracement today, and I’m in it for a bull move. Ready to exit quickly if it goes south, but oil touching $56 in December wouldn’t surprise me. Not sure if I have the guts to hang onto a leveraged instruments that long, but that’s what the chart says.
See here for the chart: http://postimg.org/image/np0lyruul/
“I see oil touching $56 in December”
As the saying goes………..
“Good luck with that one!”
I know there’s no fundamental reason for it, believe me. Oil should trade in the 30s based on fundamentals.
Just keep an eye on what happens. Let the record show that pseudonymous Internet blog commenter “Damian” called for this momentous move.
Wow. Just wow at move today in $iwm. I’m not in it so you can’t blame me for cursing it this time
I bought it just 3 points from here.
Congrats. Just observing how it dropped hard just 1 hr ago. You timed well then
High five me at the close
Hi five. Let’s gap it up
Watch the USD/YEN, if it holds recent trend…well nough said.
This market sucks… feels super difficult to make a buck
http://stockcharts.com/public/1504763
See 7th chart down. Uber-boolish on SCO.
Raul3 sees a flush below $42 for oil. Holding SCO for now.
crazy how many of you share the same IP.
It’s a communal trolling computer.
Ha ha!
Tough to mentally reconcile the 500k avg volume % change extremes and the comparatively quiet indexes. Preposterous moves out there today. Thankful the only one on the red side is an old position in $HCLP that only makes sense to ride to $0 or glory at this point.
Have a $ZG add on the radar here… trying to hold out for a visit under $30, but #FOMO.
Apathy and pessimism are running high…makes me more bullish
Debating holding TWTR thru earnings. Basically a coin flip.
let your time frame be your guide: sell a trade, hold an investment.
still trying to figure out if the market cares about investments anymore.