Not a big fan of Bollinger Bands, but I used them as a metric of “speed” in my NYC presentation.
I like them for the pinch factor, nothing else.
Take a look at the weekly and monthly charts, and how narrow these bands are to support my melt-up call from long, long ago.
Pretty tight, no?
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hilarious picture.
i don’t see the correlation to big moves up in the past per that chart. looks like they tightened at the 2000 top and in 2006 so 1 of 2 resulted in big moves up?
Print it out, we’ll revisit it.
Great job with the headline pics lately.
Trying to step mah game up
Ok, what do we know an hour before grannie re oil: 5 consecutive builds, 2 consecutive builds at cushing, imports staying over 7 mil/day, 2 consecutive production increases, and our own country selling the shit, extra cain thaler.
Remaining short & added this morning. Also, 4g, 4 bars at Sanibel island lighthouse! Let’s stay here honey and you can hunt for shells all daaaaaayy !!!!!
What we don’t know: US based QE. Does the impending budget influence WTI demand to sufficiently draw down inventories. Will market participants consider 480 million barrels in storage as the new normal and keep prices range bound. Could happen. That is why I am more interested in the weekly close.
Jeff – What are your thoughts on RACE? IPO price I believe was $52.
I usually don’t even look at an IPO ticker until a month after.
cool thanks.
Hows the breadth on a day like today?
90% of Russell 2000 components are green.
I’m still seeing a lack of engagement by the people I use as my market proxies. Still hesitation to participate.
I am a giant wimp, so I’m selling my UWTI here at the 38.2 retrace for /CL. May re-enter lately. I’ll take 19% in half a day.
Er, I may re-enter *later*. English is my first language, I promise.
But I thought oil would be over $50 soon? Why would you sell UWTI here?
haha. nothing wrong with taking some profits on a 19% day
Agree.
I think it retraces here at that fib level and I pussed out and took the 19%. I wanted to tell you guys so anyone foolish enough to listen to some random guy in a comments section would know what I was doing.
Importantly, remember that I said it could hit $56 in December, not that I have high conviction on such a move.
The $56 price target for December is just what the weekly chart says to me, assuming that head and shoulders pattern is so obvious that it gets faded and that the channels that I showed you play out.
Here’s an updated chart: http://s15.postimg.org/74z42z297/CL_updated.png
Fair nuff
Jeff – I would imagine that for $TWTR shareholders, the desire to get out – now that the stock has rallied most of the way back – must be tantalizing. Do you think the pain trade is for it to go higher, thus frustrating those who sold this morning? Or for it to pull back, leaving stockholders such as myself second guessing my decision to hold and generally wanting to punch myself in the genitals? Thanks!
Good topic to bring up. Jeff is great at analyzing this sentiment stuff. My guess is some consolidation here would be a positive. Unfortunately, I unloaded my shares this morning that I bought after the report. Could have made 10% in a day on those.
Yes I do. I feel this is at the exact same place $FB was in 2013, 16+ months post IPO.
You must have a LT position here IMO. There’s a place for it in every portfolio.
If these guys focused exclusively on search results and driving revenues from that (similar to Google Adwords) then the stock would be multiples higher. They dominate real time search.
Thanks Jeff
I think the folks on TWTR knew about the passing of Volquez’s father before Edinson did.
Is the headline photo I pic of the owner of the Raiders?
+1