Saturday, March 14, 2015

Shorts Fired: Oil



At the time of writing, we are $1.50 away from the most recent intraday low since 2009.

We are a mere 73c away from the lowest close ever since 2009 at $44.15.

And you know what? I still think we have more room to fall. Of course, what sort of narcissist would I be if I didn't highlight that last week I said I don't think the drop in Oil is over yet.


Don't mind me, I'm just yanking your chain.

In this game we play, guessing what happens 1 week out is a fool's game. It's luck, not skill. If you think I'm your guru for you to follow and make investment decisions based on, sorry to break it to you, I'm just an average Joe.

Even a blind squirrel finds an acorns every now and then.

4 comments:

  1. Everyone seem to be playing the oil guessing game as of late. I turn on CNBC and that's all I hear them talk about lol. I'm just gonna let the price tell me instead of guessing.

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    Replies
    1. Hey Mark,

      Yeah, the move is pretty drastic compared to everything else. I like watching CNBC to go contrarian against all of them, haha. Any confirmation levels you are watching?

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  2. Hey GMGH,

    I mainly invest based on major trend changes using the weekly chart, but if I were an active trader or swing trader, then I would look for a bounce off ~$35 from the CL chart. However, I'm a dividend investor so it doesn't really matter to me where it bounces anyway.

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    Replies
    1. Hey Mark,

      Back to the $44 recent lows! I don't really have a price target actually, but I'll be more sensitive around $35 to see if a bounce could be played.

      I do dividend investing too, but only for a portion of my portfolio. All the best to you!

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