FinancialAdvisor's College Class (FACC)

[FinancialAdvisor]

*Good morning Ander, first off if you want to make money in this market, the typical financial advisor's who tell you to buy & hold aren't going to make the money. You've got to be a nimble trader (imo).

When I made the call, the XOI was flat, in fact, many of the oil stocks were actually green as 2 of the components such as CVX and UCL were down big off of the deal news. This was hardly selling weakness unless you were in CVX and/or UCL. Just about every other major oil stock was still firm and green then. This would not be selling weakness, but had you been long, this would be getting out at an early indication that a parabolic type upsurge isn't going to occur and that the XOI is not confirming oil's record highs which in turn is bearish for both...

I think swing-trading is the best method here, adding when you are right, and dumping quickly if the cards don't fall into place. Over the next month, oil has a chance to be quite volatile. Right now, I believe the short-term path of least resistance is down until the market proves me otherwise. Your speculation is wrong: "I'm also assuming that by your posts of oil over the last few days that the path is up and that this bearishness from the failed top means you would be accumulating? Am I true in that speculation?"

Short-term bearish until proven otherwise. The top may even turn into an intermediate-term top as well, if a potential trend change is spotted, the only way to know if you're right is to play it, and play it until it proves you wron or you see something that may indicate yet another reversal.

We'll see what happens Ander, I'm bearish off what I believe was a failed top, or a top without justification, the gaps to the downside should reinforce where the area of least resistance currently is for AT LEAST the short-term after yesterday's "bearish" action.

Peace.