10:16 AM you become bearish yet over the weekend you are bullish. Sell the weakness buy the strength then? If someone called you up as a Financial Advisor and you tell them Oil is good in the AM but do a 180 a couple of hours how does that help them?
I'm assuming you are daytrading oil then with such quick turnarounds. What is your view on Oil over the next month. What is the path of least resistance? 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?
I think many saw the bearishness in oil several days ago when short term indicators were already giving signs that momentum was slowing. That Goldman’s report sealed oil's fate. When have you ever seen a price target so far out on a commodity? When people were posting that article they were in jubilant manic style and others in worry. That was a good indicator that there was a top coming in. That and the fact that Oil lags Gold by about 9 months to a year. If Gold put in a top in December it may very well be that we can expect another high try to eek out of the market. Not something to put a new position in but time enough to start thinking about making an exit. Time to weigh the increased risk in holding for profits over 58.
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