We all take losses. Hell, yes. On a regular basis. If a person requires absolutes, trading is definitely NOT the place to be.
Look at how brutally today's high of 51.27, and indeed the $50 handle in general, was rejected by the market in terms of fair valuation. We will need to spend considerable time settling above $50 for that valuation to become the new accepted reality.
congrats on the first trade. nice gain. was mentioning something that is worth looking into if not currently employing it - protection from giving back large gains.
Although the opportunity has been very good, we are categorizing the crude trade as “low reward,” simply because there remains much political risk in the commodity. Experienced investors may enter/-re-enter into crude short positions if the commodity trades back up to immediate resistance. We are leaning towards the probability that the commodity will trade down to our Target Pivot before retracing back to immediate resistance.
Added 500 shares at 130,50, so I'm now long 1500 shares from 130,50. Took some heat, but nothing more than what was to be expected from a technical perspective. The stock still held well above the bottom that was put in around 120. There's been a lot of bearish news on this stock lately and the short interest is very high, still the stock won't budge. It has had plenty of reasons and opportunities to sell off, yet it won't. I take that as a very bullish sign. I'm thinking that those who shorted these new lows are very nervous and with good reason. Up! Up! Up!
Green close today above 130, which to me seems like a critical level to be accepted. Please tell me. Am I just being wishful or is this chart starting to look bullish? I also posted my initial targets. 180 would be great, but I wasn't expecting that when I put on the trade. Comments appreciated.
%%%%%%%%%%%%%%%%%%%% N business; Pretty good uptrend; SCO [ULTRA SHORT CRUDE OIL}, too bad for the bulls that is still bear- ish, by most measures.Even if the trend changed[long term or medium trend] I still think our Arabian allies[Operation Desert Storm allies] love cheap[low selling price] oil. I am also looking at a 3 year weekly paper/1 year candle chart of texas tea; that still looks bearish[bear market] by most measures .NOT a prediction; for educational purposes only.......................................................................
Time to give up, short sellers? Up 3,13% today with a strong close. I remain confident in my analysis, but will put in a stop around breakeven. Expecting 140 by the end of the week. Looking to sell around 150, but may be greedier than that.
138,50 high print for the day. Must be painful to short the lows and go all the way up here. Expecting the squeeze to continue tomorrow.