So what's the solution, apart from pointing out the obvious, may be there is a need to heal, or heel, depending on your outlook in life.
May be, but If the US is the biggest consumer of oil, and the forex is trying to weaken the dollar to increase the price of oil, And there is an economic slowdown going on, this may be a sell into the rally, Because a weaker dollar, and higher oil prices, with a slowing economy is a paradox in itself, Also, the market has to correct or consolidate at some point, all that has happened over the last couple of years is the market partially correcting itself, And with everyone living longer, an older population may be more conservative, resulting in a rolling bear market.
Just to clarify: I started this thread on Sep. 12th. On the second page of this thread, I wrote: While that part was right, It was a tradable bounce situation, but <b>not a short-term bottom</b>. Once again, I was incorrect in calling it a short-term bottom. I got out of this trade almost two weeks ago. <b>I am no longer long oil, and no longer bullish on oil. I'm flat oil.</b>
What's wrong with you two?!!!!! What the hell are we supposed to read for entertainment now?......................................kidding Ahhhhh..........There you go.
Fact remains, that what would happen to Japan if there was a bear market. It would be powerless to stop China engulfing. So the Fed has only one option, to keep printing more money.
Looks like a decent short term bottoming forming here. Looking to short the first pink zone with a tight stop. If you want to be conservative, wait for the second zone where you will have best risk/reward. But you might miss the trade. Looking to get down to test the left shoulder for first profit target and then BE stop runner down to 58.90. If breaks up above both zones with force, look to go long with first dip.
Caught a good part of that tank down to 60.575 a minute ago. Couldn't see any news. Oh, well. Back to work. Missed the bounce. Getting ready to reshort the little tyke. BTW the index bulls seem to be living in delusional fantasy land today fueled in part by the bs from the Fed governor yesterday. But we just trade em.
It's too funny how most people just follow what they read on the news. A month or so ago, people were calling it the end of the world and that $100 oil is close at hand and that oil is going to destroy the economy. A month or so later, everyone's talking about how oil prices will fall back to 30s and 40s. Goes to show that most people don't know sh*t (me included )