Just an FYI: A simple 1.618 fibonacci move in the OIH which targets the 210 handle was hit yesterday. The February rally from 152.85 to 183.72 gets you 30.85 points. 1.618 x 30.85 = 49.95 Add 49.95 to the March 20th low at 160.59 and it targets . . . 210.53 Could easily chop around at these levels, but a 23.6% retracement takes you right back down to the 10 day MA which is coming in just below 198. Just something to keep in mind.
My DUG is doing great today by the way, a few people laughed when I took the position, Im averaged down down and have positions in my long term account and short term account.....Guess what any drop in DUG and Im buying even more, anyone who thinks oil can continue to climb the way it has is a complete fool, oil and every other commodity is in one of the biggest bubbles, this reminds me of all the talking heads who said the nasdaq was going to 10,000 back in 2000......oil and every other commodity is going to correct pretty damn hard....
Give me a break. After the trade CLEARLY went against you and the DUG plummeted to new lows at 29.23 you completely disappeared and stopped talking about being long the DUG. How convenient. Now that the DUG is back up into the 31 handle ( where it was last Wed/Thur ) you are acting as though you are making money on it? Please do us all a favor and take your lies to some other Internet message board.
OIH breaking hard today and now sitting on top of the 21-DAY MA. My guess is that we should easily see a 38.2% retracement of the rally up from the late March lows in the 160 handle, which would target the 190 handle; which coincidentally will be where the 40-DAY MA comes through later this week.
What is this CRAP?? landis is talking to himself, the last 3 posts are his. He's filling up the trading forum with non-news, as usual. With all this wasteful posting, it's obvious that he doesn't actually trade