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WIT

cup is empty... caffeine is wearing off.Back in the days of swing ... this was an inverted cup and handle. It was not a bullish sign. Today our computers can back check our our predictions, Algos, and ATMs. As they give us micro second opportunities. If my trading action happened at the speed of humming bird wings, my heart would explode. If you play against the herd, stay short into the weekend. But the safe bet would be long or cash. It is more likely any news (true or not) this weekend, will be to promote a oil bottom. Not likely any weekend news will push price down. But any rumor can push it up. It's the weekend.. I remain short oil..
FX:USOILShort
by BigEz
When predicting micro moves, remember the tide matters... Saudi Arabia controls the price of oil. Once you understand that, all technicals need to include variables for real world political manipulation of the worlds most important commodity. .... "Church of Krümel" Back in the day, there was a King, he turned off the blood supply to the industrial world. The world went into chaos, wars started... wars stopped. In the end the world found that one country... No, one man controls the affordable supply of the earths most important commodity . Agree or not with anyone's politics, technical reads, or overall forecasts... My approach is to start with the above in mind. Until we have a new king or new war, I see no reason to buy oil. Micro channel guys will laugh.. So much money to be made in the foam. This is true, though they may spend more time stressed that their finger is faster than a sword. I just invite those to know there are other ways to skin this cat.. Ways that allow for thought and time to walk outside. Charting has been around a long time. The tools are better.. but not always the results..
FX:USOILShort
by BigEz
There is a bottom.... It's just not here.Every month there this point... Almost like a lunar cycle, where the army of optimists run out from under their cover to catch the enemy's blade. But not unlike the charge of the Light Brigade...the clearing smoke will uncover the carnage. As I said yesterday. We are in for some crazy days. But let's not think we can see things others can't. And don't be fooled by the first break above the main trend (when it happens). When it breaks, the ripple will roar... You will hear the whistle and calls to clear the trench. The enemy is smart and has proven his ability to play the long game. I expect we will see a few false starts, all will look like visions when they happen. Just beware... some of those visions are from the mustard gas. I know there are a few who made some bucks today.. Nice job! I know a few were ready at morning light. As for my account, it is worth less today, but it's worth more than last month.. and more than the month before that. So I'll be over there watching the circus. If you think the drop to the 40s was a show. Wait till you see the show for the 20s.. Camels on the horizon... Is that Sir Lawrence?? Or is it anouther under that sheet?? I'm short to sub 20
FX:USOIL
by BigEz