Everyone saying oil overbought

Discussion in 'Economics' started by Aaron Copland, May 21, 2008.

  1. Gee I remember Tom Demark calling the top 30 dollars lower. Now Laslo Birine on telling everyone oil stocks overbought, gee thanks for pointing out the obvious hahahaha.

    I want to see everyone saying oil going to $1000. not everyone call the top every day.
  2. "The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes.

    Just wait, watch and listen. Prediction is a waste of time. Form a hypothesis, create clear parameters and only act when the market price action then confirms you views. Relax,relax,relax !!! Markets have been here before we were all born (except Chuck Norris) and they will be here until a marketmaker messes up a Limit Order from Chuck Norris :D
  3. Mundame


    Well said, Cygnus! :D
  4. how do you tell the difference between a dip in a trend, and the genuine end of a trend?
  5. Mundame


    You wait and see which way it turns..........................

    And hope your trade is going that way rather than the opposite.

    At least that's what I do.

    Okay, I use MACD divergence: if the lines are far apart, the trend may continue for awhile. It may not, too, but if I panic and ignore that divergence, I tend to find myself weeping softly later.
  6. Mvic


    oil and oil stocks are two different animals, there are those who think oil stocks are tremedously undervalued with oil where it is suggesting a good pair trade might be short oil long oil stocks.
  7. Oil is headed to $2,500 USD per barrel, and gasoline is headed to $67 USD per gallon.
  8. Mvic


    ByLo I think FMD put you on TILT :)

    Seriously though I get the feeling you may be pressing too hard of late trying to make money rather than letting the trades come to you.
  9. Thats probably the most accurate forecast I have seen yet.

  10. we're in recession and even ballistic money supply increase can't save us

    BuyLo maybe right
    #10     May 21, 2008