Oil: I call short term bottom right here

I have another thread going here in Economics on conspiracy theories. I've deduced all of these reversals are plunge protection team at work.

bastards.

 

Actually I did not track it today.....I was just watching the overall volume but I did not see any signals yet on my higher time frame charts for LONG trades that might stick. I will go and check the days "delta" later.

When middle eastern oil wealth buyers come back in that will be the time to buy.

 

I saw that. My theory was they manipulated the economic numbers to ramp up the market before the election and will revise them later. But you know they want gas prices low too.

 

Ha.. in other words, a revision of GDP to -5% coming to a theatre near you !!!

 

I wouldn't worry about beta's and delta's. Just know this You need king size nuts to trade crude these days. You'll inevitably get slaughtered. Go where the money is and short gold/gold stocks

 

Trying to hold onto it's base it's been trying to form here around 64, but looking pretty weak.

 

How many contracts you bought?

 

Looks like we're testing the low right now... This is the crucial point.

 

OIH dipping again.


Again, I will consider it long at 118-120, JMHO! Or...on a very successful retest of 125 area, small open gap at 124.80 range from yesterday's open.

 

Quite a battle on QM today as it tries to base. Any rally attempt above 64 gets hammered with selling and any dip around 63.675 or so gets gobbled up by buyers. Tried a short earlier at that level as it was looking like it might break down further but covered at break even before it ramped up again. Good luck with your trades everyone.