Bottomfishing oil is risky, I lost a few hundred on UWT, we'll see if any bounce, eg OXY HAL UCO Energy also interesting, bought ERX small size last week
Look what happened on the fake news...if even slightly positive results emerge crude will soar. Of course I’m just feeding your hopes and dreams because I really want you to hold the position. I love both loss and gain porn so win win for me either way bud. I hope you hit a home run though honestly.
I've come to the conclusion that predictions are impossible. This is why I want to start using my S&P statistical analysis method. If I lose all the money I set aside to trade, then that won't happen for a while.
1. The Oil ETFs good short term proxies but are toxic long term vehicles(as are many other commodity etfs with sharp contango); just look at a long term chart or overlay percentage change charts agains the nearby future contract. You know this however. 2.That being said I do agree, last time it traded 27 it bottomed in a couple of weeks and traded back up to 60 one way trip. On the back of the deal, which we will see some feedback from on monday US-RUS-OPEC, we are up to $28; lots of FOMO chasers in the the trade pricing in that the Oligopoly is stable & sovereign relationships will cooperate in a coordinated supply reduction...if they are not could be a lot of longs caught. 3. Very true on Oil companies, Refiners...the proxy move is much much less pure. 4. It is one of those things where there is a sharp contango, toxic etfs, and no real way to get a handle on a trade for the timeframe. Would have liked to be long in the low 20s with all the time in the world to wait for 40-50-60s. Kills me not being able to ride the wave from a ridiculous bottom.
Good luck, I don't have the balls to trade that kind of size To me, anything over 5k in a single position makes me worry, obsess over every tiny move, can't sleep etc
I didn't really do it intentionally. I wasn't paying attention to the time. I wouldn't have purposefully held it over the weekend.
NO to both, that is a different person entirely. I am Kenneth Edward Calhoun, born 1/19/1964 not "Kent Calhoun". No compliance actions have ever been taken against me, I'm a UCLA grad, Moneyshow speaker and TASC author, born in Long Beach California. No relation. The other guy is Kent C Calhoun from Texas, and was in business in 1995, years before l began, in '99. https://www.cftc.gov/sites/default/files/enf/99orders/enfkentcalhoun.htm That's a different person, not me.
All good, you should put that disclaimer in your bio. I remember most of the scammers from the 90’s who peddled their shit in the back of Technical Analysis of Stocks and Commodities or Futures magazine.