nikoschopen 2,824 posts msg #59715 - Ignore nikoschopen |
2/15/2008 5:01:29 PM
Way to go, JP. However, keep in mind that for oil-related stocks all roads lead to the crude oil futures, which looks shaky at the moment. As you can see from the above chart, CLH8 is going through what looks like a head & shoulders pattern. Obviously, H&S isn't complete until its neckline is taken out, but with so much volatility lately what seems likely is for the most part a foregone conclusion, Hence, should the futures fall next week, I hate to even think what could possibly happen down the road.
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johnpaulca 12,036 posts msg #59716 - Ignore johnpaulca |
2/15/2008 8:13:34 PM
Niko...would seasonality be figured into this since it's forward looking i.e driving season, Venezula etc.???
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nikoschopen 2,824 posts msg #59718 - Ignore nikoschopen |
2/15/2008 10:33:34 PM
Only seasonal cycle I follow is the annual hurricane season, and I ain't no political junkie to know the difference as to who the real menace is: the un-democratic Bushwhackers or the oil loving commies. But as a techie, I figure it ain't gonna matter one way or the other since they'll all show up on the chart anyway.
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johnpaulca 12,036 posts msg #59778 - Ignore johnpaulca modified |
2/19/2008 10:57:01 AM
Fwlt...sold@74.50 ...(+4.71%)
MHS...sold@51.75...(+3.71%)
GDX...sold@49.90...(+4.50%)
These were bought last week...APC, MUR and CEG are still open...I believe they have more legs.
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nikoschopen 2,824 posts msg #59781 - Ignore nikoschopen |
2/19/2008 11:49:49 AM
Short GLD @ 91.72
Finally, Damnit!!!
LOL
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johnpaulca 12,036 posts msg #59783 - Ignore johnpaulca |
2/19/2008 12:19:08 PM
GLD...shorted a rising wedge...shame on U (<:
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nikoschopen 2,824 posts msg #59784 - Ignore nikoschopen |
2/19/2008 12:23:59 PM
What rising wedge? Plus, a rising wedge is supposed to be BEARISH (!!!)
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nikoschopen 2,824 posts msg #59785 - Ignore nikoschopen |
2/19/2008 12:30:56 PM
I'll post a chart later to once again over-rationalize why you absolutely need to short here and now. Many indications IMHO.
Cheers!
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nikoschopen 2,824 posts msg #59789 - Ignore nikoschopen |
2/19/2008 1:03:11 PM
JP, be sure to short DBC as well as it approaches 35. Currently trading at 34.65
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johnpaulca 12,036 posts msg #59791 - Ignore johnpaulca |
2/19/2008 1:22:40 PM
Niko....this is how I saw GLD... I saw a rising BBand which should act as a spring board sending it to the last high. I was looking to short right about now or very soon.

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