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Sold my shares of D for a very modest loss. Staying on side until this direction for oil unfolds a bit clearer. Great day for you day traders though!
4 hour chart is showing resistance for oil. I'm guessing we see it decline some tomorrow/ close lower. JMO
Yup. That is the dichotomy I was speaking of - Mixed indicators.
Perhaps today we'll see a better indication of a break to one side or the other. Good trading!
(btw..using a 4 hour chart). Should have pointed that out.
Very interesting dilemma... oil is hitting a fairly good level of resistance, yet the cyclical and momentum indicators are showing buy.. we'll see how it plays out soon.
I'm hoping insanity has reached its peak (at least for awhile), nibbling here on the U side.
big decrease. when insanity is at its peak, I may get back in...u
just sold uwt. Waiting for report now.
switching out of D to U, looks like wti 51.6x is a good start point for me. Should be decent support after last couple of weeks history. jmho. trade safe
OK...NOW que the dump...or at least a good dribble!
yeah, but I'd like to see one more test between 50.60 and 50.76, so I can pick up a few more shares of D.
I'm reminded of what the great Archie Bunker once said,"Patience is a virgin."
Its gotta get below 50.60 solidly...
Agreed. If 51.70s get taken out, uptrend may be intact.
Oil keeps bumping its head on 50.6ish level like we were talking about last week. pretty good resistance. Hope my cash gets settled in time for tomorrow...glta
exited my D position in the premarket. Will watch to see if oil starts a concerted move.
Looking at my daily chart theirs a good chance it will at least test 48.80+/-. My charts say that's about a 50% retracement of oil's last positive upmove.I'm not going to try to play it that close to the vest. If there's real strong support at 48.90 or so, I'll step on the side or maybe daytrade the tiny bounces up. If if breaks on below 48.80... well its gravy until the next support level. Trade well be safe.
What the heck, I'm on a roll. Let's go for two...
Kevin Sumlin's Texas Aggies have a chance at beating Nick Saban's Crimson Tide at home...
This won't be easy.
ok... now we have a chance. Let's see 49.76 get taken out to the downside. This won't be easy.
Right now short term support for wti is at 50.6+/- range. Need something to push it solidly below there for 48 or 47 to have a chance. I'm betting it will head lower, based on daily chart.
Of course, charts change over time.
Im buying more DWT here..
yup, that's the number. I knew I saw it here.
Daily chart is showing me a bit more down for oil. support or at least a bounce areas is somewhere around 48.79. That number has been mentioned on here before (Kam? Pleeb?). the 78.6% level (21.4% FIB. off the high) is right at 50.60, pretty much where its been most of this afternoon. Hopefully others might chime in here, but I see it heading a little lower FWIW. Again, JMHO
I've been lurking on this board on and off. Most of the sentiment seems that a correction in oil is due. MY own chart work tells me the sell off is technically due to failing in the overbought condition on 9/27. Hope it continues a bit more. GLTA
On the subject of oil, we haven't seen much positive movement in the first 30 minutes of "crazy time", so I would expect the general downtrend to continue for most of the day. I would expect us to test at least 50 perhaps 49.8+/- today. JMHO
I'll second that TMM. Prayers are being sent for them and their loved ones.
Good morning Pleeb, and good luck to you as well!
Hope you're right about the 40's over the next couple months.
Gosh , I've learned that I'm not very good at this trading over the day, but I'm a little more cocky on the longer trends. Just for grins though I see wti about $10 bucks higher by end of april, say $61.35. Again just for fun. Short term I'd like it to test 48 real dang soon!
I suppose I'll have to take one for the team again. I'll buy two shares of UCO or UWT at the open, that'll bring oil down to at least 47.50!
4.6 mil build. more than expected. should bring wti down.
I see a bright spot that is somewhat encouraging: On the 4 hour chart, buy divergences are starting to form in the technicals( macd, cci, even stochastics)for jnug.
I'm afraid you may have to wait for gold to get in the low $1400 range to get jnug to drop back into the 5's.
I'm kidding...I think.
Wow, I got lucky near the close to dump mine for 6.92. Lost about 1%, could have easily been worse.
Sold some 7.40's
Of course you're right. Sorry, its early and I keep forgettin that.
That's wonderful for gold, but its not having anywhere near the effect it should have on jnug. In early Febuary gold was $20 cheaper than the current price, yet jnug WAS almost double what it is right this moment.
I think you can start laughin'...or at least grin a bit.
Thinking this might be the last time (for awhile) to get jnug under 7.