Grinding
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Could go either way. Could be preparing for the demand that's soon to come. My company started re hiring as of last week as well. Could be about to boom. Or collapse. Either way, I'll be playing it. For now I'm bullish for that August / sept price.
But wouldn't be surprised to see a little more of a pullback first. But I don't expect a triple bottom. Not saying it won't happen but not what I'm expecting that's for sure. You still holding that DWTI from today?
Everybody so concerned about oil correcting itself. But shit, does the dollar not have to correct itself?
Magical news will happen swinging this one way, then more magical news the other way, then some magic govt regulation swings it another way, then another magic sanction lifted moves it another. Don't get caught up thinking anything actually matters cuz it doesn't. It's all planned. It's all to make them more money. All we can do is try to keep up and make our pennies while they make their billions.
This is going to 75. Some magical news will come along that will satisfy your minds need to have a logical reason as to why it swung to that price. But the reality is, that price is planned, going to happen, and that news to get it to that price was planned as well.
75 dollar oil by September. I don't what news you currently mention to me.
Why make 5, when you can make 50? Even if that means you have to share some of the sales with other producers?
It's all a sham anyways so who cares. The worlds a stage. At the end of the day, they're all in this together to get rich and the rest of the world are all pawns, thinking shit is actually real and actually matters.
That was definitely said. They also said they would cut production, if others cut production, they just didn't want to be the sole source of absorbing the glut.
The glut isn't going to be an issue. Factors outside any of our control comes into play. Too many big names rely on oil. Too much of the economy relies on oil.
They can't simply "turn the pump on" at this point, when it comes to most fraccing companies. We're going up. 70-75 by September. After that, back down seems logical, but that's anyone guess. I plan to be through with UWTI by then.
I got out of my 3.48 shares at 3.69, missed my current buy price to buy back in by a penny. Too scared to ever ride DWTI while I wait to buy back in. I'm always scared of DWTI! Wish I had your balls. I did that one time haha. Well I have 3 total DWTI trades, all 3 successful. BUt still scared. >.<
DESCRIPTION
CREDIT SUISSE NASSAU BRH VELOCITY SHS 3X LONG CRUDE OIL ETN LKD S&P GSCI CRUDE OIL INDEX
DATE
05/11/2015, 11:12:36 AM ET
TRANSACTION
ORDER TYPE
at a Limit price of 3.52
Nice switch, what's your stop?
That made me laugh. Shale recovery? Yeah right. Going to take a lot longer to recover than it did to shut down. To many bads going for shale right now. Keystone isn't even talked about atm.
The oil company I work for had thousands of layoffs. Now we're re-hiring again.
We're not hiring again for no reason. Oil going up.
Awh, no 3.40s on Friday?? :(
So many emotions. :P
Nah won't happen. That would mean the charts are working. And you can't chart commodities. Charts don't work. Oil down to 20 dollars.
Updated.
I didn't include the shadow, as I was just drawing the line from the open/close. not just where the price happened to go during that week, but where it opened that week.
Yeah the daily will have a thin line passing through it , meaning the price went through it. But won't have a bar closed below it because didn't close below it for the day. I'll add it to the top when I get home
Smaller the time frame, the more precise and can't get a long term picture for such a short term. For example. The minute chart and 15 minute chart has had plenty of closes below it over the time
One more thing. Just food for thought.
There's way too many news articles about the doji and shooting star and rising star. Whatever you wanna call it.
That screams to me a bunch of people are about to get shorted.
When the news starts bringing charts into there articles, that's when real people start selling and when for a short time , the news actually has enough influence on the price, rather than robots.
Seems fishy to me.
This is true as well. Hourly has. 4 hours. But not day. And day is a bigger factor For long term.
I agree the reasons for the decline are different. However, even with supply issues, the issues won't remain. Summer driving always has a huge effect, and it's not just because of vacationers, but truckers and regulation changes around that time as well.
As for the pattern, False patterns appear all the time, and they short a lot of people out. If it was always 100 % everyone would be rich.
I'm obviously long term bullish, so you can value my opinion as biased. But history does tend to repeat itself, and the supply issue has been proving since 42 that it's not an issue. If it was, we wouldn't be at 60 right now.
If you look at the daily or weekly chart, you can also see a double bottom reversal pattern. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:double_bottom_reversal
At the same time, one could argue the charts on the daily or weekly look like a bear gartley 222 pattern. http://www.goldenwire.com/419/gartley-pattern-trading-made-easy/
This one would have to be interpreted off the uwti chart and not the WTI chart though.
Or look at the monthly, and call it a bull gartley 222 starting back with the rise from 05-08 and then the drop from 08 and then the drop now, and now we launch up past 140 even. I'm not saying any of these are true, but you can find patterns in anything really.
Interpret as you may. Just be careful. I mean. I'm on my phone right now. So can explain better later but you should be fine.
Good stuff. Lowest I averaged down with was 3.48, but wasnt many shares. 600ish. Now I'm playing the waiting game.
Yes sir! It's a roller coaster. Gonna short some people out. But eff that.
I consider the first 30 minutes, amateur hour...
I have no idea man. Sorry. :/ I just watch the charts. If I had to speculate, it would be good news for this, just because that's how all this should end up playing out anyways. So if that's how they want to help the bulls, then so be it.
The world's a stage. It's all about money. Every deal, every war, every news article. World's a stage. Learn the script. All part of the plan to keep those big boys rich, and getting richer. we're all pawns.
Averaged down. Will keep averaging down as it goes lower.
Status
Current Status Posted
Number of Shares Executed 628
Order Details
Created 5/08/2015 9:48:03 AM ET
Action Buy
Symbol UWTI
Description VELOCITY SHS 3X LONG CRUDE ETN
Number Of Shares 628
Order Type Limit
Limit Price $3.48
Lmao. You had to have grabbed the funniest goat picture.
I was joking around. Stop sounding mad.
I was hoping it would go lower... But every time you sell, it goes up... Thanks a lot.
Breaking through support after support. Looks like what you said RB, 3.30s. Especially if we close in this muck. I got out at 3.61, getting back in averaged down, to add shares.
how much profit/share on your dwti flip? 4?
Riding with you
I have it there as well, but want to see where the day closes.
That was a super bullish trend line, and I'm surprised it lasted this long. (UWTI trend line is still intact)
Regardless, we're still putting in higher lows. So nothing to worry about atm.
I was waiting for you to say this. We can add this to your list if it doesn't pan out. WHat are you averaged in DWTI in? Were you able to average down in the 50s?
about to roll to 25 % july futures. Been 100 % june for a while. http://www.velocitysharesetns.com/uwti
You're a freak of nature. One day I'll be like you sensei.
I hope so too.
There's been trades below before. need an hourly close below it.
Hopefully haha