Fairly obvious to most experienced traders that whether or not the fundamentals justify it or not... oil will likely test 150 before a significant decline, if any! It's "possible" but unlikely that 140 will be a 2nd and final price top. Given the powerful bull move preceding these levels I doubt we will see a V-top (although it is "possible"). I don't understand making a public "call" (and presumably trading it) on ET contrary to the minor and major trends AND THEN continuing to support that call in the face of price movement that does justify same! I mean, every good trader on ET knows oil will go down at some point, and many know or believe oil will have a substantial down move simply based upon the history of other recent bubbles and market history in general. But to make a call that oil is "bearish" and wil not exceed a certain price level, when the major trend is higher at said time, discredits the person making such a call. p.s. no positions in oil at this time
The best was increasenow on the phone with the NY Fed tring to negotiate access to the discount window!
Why are you guys taking the piss? Maybe he is just practising analysing market conditions, no need to keep rubbing it in, advise not laugh at the guy, no honour or benefit in that ImPO
now that oil has hit new highs, its a good setup to suck in new longs and burn them on the down side Oil is now in rampage mode where its going to burn everyone who is making leveraged bets and can't hold onto positions some of you genius nimble traders might be able to trade this, not me. In fact if it hits 150, it will probably spike a bit more, i think I will wait for higher then, like 160 or 170 and sell the 200s or im going to sell 150 calls if it closes this week under 135
This guy must be the most fucking stupid retard...sorry RETARD with a capital "R" eek: ..wannabe trader that has ever posted in the net: <a href="http://s50.photobucket.com/albums/f337/mochoa77/?action=view¤t=351636710_l-1.gif" target="_blank"><img src="http://i50.photobucket.com/albums/f337/mochoa77/351636710_l-1.gif" border="0" alt="Photobucket"></a>
Increasenow's problem is the problem of alot of wannabee traders, they just can't say I WAS WRONG. Instead he has tried to keep the hope alive of his call and has probably added the "bearish trend CONFIRMED" followup at least 5 or so times. Increase, some advice, stop being so stubborn, admit you made an error in judgement and STOP confirming a bearish trend that isnt there
when will this BUBBLE burst...Oil prices totally being run up by speculators...right now...$140 is acting like SUPER-RESISTANCE...
I love it, still won't admit to being wrong Seriously, I highly suggest trading max size right now, you are definitely ready.