A few weeks ago, I wrote this post about betting against Gold. It hit an oversold signal that stopped the rally in its tracks, and has since pulled back by a good amount.
Well, today crude oil printed an oversold signal of the same caliber.
Oil is seeing a sharp upside reversal here this morning. From here, I’d be looking for entry points on the long side. $OIH, $XOP, $ERX all interesting here at support as well.
OA
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If this is the relief rally in crude I’m not sure I’m convinced :-/
You will be. This is how it works.
https://youtu.be/NPOb3DlB7WA
Any interest in being long Gold here or remain patient?
You’re convinced on Gold? Have to own it?
do you have a downside target in gold before looking to get long?
Wow. So many are so eager here.
haha, maybe a contrarian indicator
Will close my oil short ahead of Fed announcement tomorrow.
Any thoughts on PLUG long here?
When it breaks out, I worry about the market.
Makes sense. Trash should be last to run…
If you buy, it works as a good warning light in your account, lol.
Chased $BOX up to $11. Couldn’t hit my bid. Could be a FOMO, but will wait and see. A bunch of orders in right now, but haven’t hit anything yet. Closed my $S for a nice win.
“Chased $BOX up to $11”
Perv
Almost said the same. I’ve been chasing box forever.
Just wanted to say thanks for confirming the call on NFLX last week. I had already pulled the trigger when I saw your post but was happy to feel validated at the time. Sold too early (but gains are gains) today for a cool 110%. Wish I would have doubled-down when it sank a bit more during the midst of that trade but not complaining. Diving into oil today.
Nice trade!