Non Convincing Crude bottom

Discussion in 'Energy Futures' started by Tmakedon, Jan 23, 2007.

  1. Tmakedon

    Tmakedon

    Anyone feel todays run up on crude is non convincing jumping almost 3 percent before the DOE report due tomorrow morning. Im not naive and understand that the market does what the market does, but trend is still down from what I can see. Anyhow entering a short at 53.800 stop at 55.200 lets see what happens.
    Any views would appreciated.
     
  2. A crude bottom without an FTT, no way. We probably get a FBO then a clear FTT followed by a BO and then we've bottomed for good.
     
  3. Tmakedon

    Tmakedon

    Everytime Crude has an up day they call for a bottom kind of funny.
     
  4. At some point, they will be right, then we get to hear them pound their chest about the great call they made!

    Sell the rallies until the market makes you pay for it.