20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008

Discussion in 'Commodity Futures' started by increasenow, May 22, 2008.

  1. wonder when the FX bucket shops will be offering spot oil mini accts

    :D
     
    #221     Jun 6, 2008
  2. This is why I swore on my ancestors that I'd never trade currencies or commodities.

    Too much.
     
    #222     Jun 7, 2008

  3. pwned
     
    #223     Jun 7, 2008
  4. Oil to NEVER hit $135.00 again.

    Ironic to see this as we sit at $138.50; anyone care to make this assertion from a bullish perspective now?

    On a serious note, picking tops in CL is pure gambling because you have zero control over where an overleveraged short account will blow out. I'm not just talking about Joe-ET who sold QM at 130 with a 140 stop; there are small-mid size producers getting blown out of forward sales on margin calls due to inadequate bank financing.

    That's not to say you can't trade short here - but don't do it on some list of 20 fundamental or technical reasons because they don't mean shit to the margin clerk.
     
    #224     Jun 7, 2008
  5. Hello all...I was HUGELY wrong BIG time...thanks for your time reading this post ...you were right and I was wrong...sorry I could not reply sooner as I was traveling...the best trading to you all..again...I was wrong and you were right!
     
    #225     Jun 7, 2008
  6. neke

    neke

    Nothing to be sorry about. You were right for two weeks! Congrats on that. All you need to make big money is being right one-day or one-week at a time (depending on your holding time-frame), and you will be super rich in the long run.
     
    #226     Jun 7, 2008
  7. Syprik

    Syprik

    Two observations about this thread:

    1. OP too pronounced in prediction (aka "never"), but at least he put some thought into the post and created conversation (point of a forum).

    2. There are too many cynical jerk-offs on ET (financial world in general) that take comfort in seeing others suffer from wrong decisions. Most of these jerk-offs couldn't trade themselves out of a wet paper-bag.
     
    #227     Jun 7, 2008
  8. dsss27

    dsss27

    Well summarized Syprik.
     
    #228     Jun 7, 2008
  9. 11Blade

    11Blade

    Credit to admitting your blown call.

    Credit for taking a stand with conviction.


    11Blade
     
    #229     Jun 7, 2008
  10. bkveen3

    bkveen3

    Hey I have mad respect for increasenow. I agreed with him and like him I will admit that I was wrong. I just think it was ballsy of him to take such a stand. And he admitted defeat when the time came. No one could have seen fridays action coming. That was some crazy shit.
     
    #230     Jun 7, 2008