just as the fear of it going up keeps it from being sold, there has to be a point where one is afraid to by the top,starting sunday night the journalists will have a slew of weekly stories to shed negative lite on this price range and the houses who manufacture this press will gain from their shorts,,first from a buy to a hold then as a sell, last week morgan said $150,see what they say next week, these indicators are just as important as ta
How long where you planning on holding on to this trade? A month....Then You are calling a top if it is for any length greater than very short term to capture a quick move. Because of course the trend is clearly up for oil. ....I wouldn't call you an idiot.... Good Luck I hope it works out for you......USE STOPS and CUT your Losses QUICK if/when it goes against you!!!!!!!!!!!!!
I would wait with shorting until next Thursday , when the ECB is meeting. If they decide to increase the interest rate, i would buy oil and gold and short the dollar. If they lower, oil will go down and the Euro will go down. Just my 2 cents
Takes two to make a market - at least you are backing your view, unlike the mostly paper-trading "bears" on here. One thing we can all agree on is it's going to be very interesting to see what happens to oil over the next 2-3 months.
I'm probably ET's #1 Oil bull, but I'm in total awe of this beast. Just watching the price go up and up in Asia trading... wow! How could it be so strong? It's going up about .5% per day. It's putting the housing bubble to shame. It's a monster!
did you take the time to see the oil report? or click on that link from you-tube or google-tube? might explain things, not that I am promoting it, it just clarified things for me, and thought it might be worth or entertaining and informative (btw - don't have any political agenda on this either way, just to clarify)
the best way to top pick this IMO is to either wait for an iran or hurricane induced super spike, like a +10 or +$15 move in days if that happens