Discussion in 'Trading' started by Port1385, Jul 4, 2008.
Im calling the top. Oil just made an intermediate term top at 145 and change
I beg to differ...IMHO $150 will be hit before $140.
I have 149.70-149.80..
have a feeling that it will come close to 150 but not breach...we'll see...
Who knows though with this new storm in the ATL brewing...
Not that it's a threat to Gulf production, but that OJ is prolly a good buy...
And what on the charts (technically speaking) would you be able to base such a call on?
Surely there hasn't even been a weekly or daily "reversal" bar to the downside given that crude just traded a new high. No significant moving averages have been penetrated either given that this is a new high. Are there intra-market spread relationships that you are basing this call off of?
Again, what "technical" means are you using to say that crude "just made an intermediate term TOP"?
Or is this yet another ET ploy to increase web-activity over a 3-day Holiday Weekend?
Another thread calling a top in oil huh.....
A better poll question would be something like this "How many ET threads have inaccurately called a top?"
Gotta admire how you market wizards can time the market with your silly technical analysis.
Sentiments like this confirm why most traders fail at trading, instead of riding strong trends on pullbacks they prefer to predict the hardest thing in trading, when all time highs will collapse or when indices will bottom.
If it gets that close then it will hit 150 if not just to show the print like it did the first time it hit 100. Some fool will do it if it is close just so they can say "I pushed it iver 150".
Good luck, you will need it.
Not saying I agree with the OP's call but your arrogance in assuming that a top can't accurately and profitably be called in a market that makes a new high, because it doesn't confirm itself with your set of TA indicators' and analysis, is frankly foolish. Just because you can't see it doesn't mean the next guy is wrong. Why bother arguing with people's calls unless you're stating that you see an opposite setup anyway, or that your setup for a long entry hasn't shown an exit signal... even then, why come about argumentatively? Shouldn't you be trying to recruit traders or did the Tuco nonsense scare you so much that new business is out of the question?
Try looking in the mirror my friend.
It is you that is the arrogant and totally clueless one.
Never have I been a partner at a sub-LLC or had even the slightest managing interest with any sub-LLC (or LLC for that matter) that has been even remotely associated with day-trading. Your claims are completely baseless and are about as unsubstantiated as the OP's top-picking claim based on absolutely nothing.
All this from a 19-year old "kid" that was whining like a "baby" who had his pacifier taken away when his prop shop in NYC failed to tell him that they were closing their doors for a Friday, without notice and he had commuted into the city for nothing. - - - Guess you didn't get the memo, eh?
You just won the "ET Fool of The Day" award.
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