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#1 hiker

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Posted 01 November 2006 - 11:48 AM

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11/1 intraday

bearish configuration of the moving averages continues as the price decline is sustained

note the above average volume candles this week

rallies to the 21-day ema have been sold so far

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why is it important to wear sunglasses, even on cloudy days?

UV damage to the eyes is cumulative during the lifetime

blindness from UV damage to the eyes is preventable for the current younger generations -

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#2 SilentOne

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Posted 03 November 2006 - 10:56 AM

Nibble here or will it just dribble lower? I bought a little USO today. It looks like an ending diagonal forming here in the last month. I'll look for a "B" wave up here to retrace the WTIC decline from $80. cheers, john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain

#3 PorkLoin

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Posted 03 November 2006 - 02:50 PM

John, I think that's a good play. Agreed on the "diagonal" feeling, and the decline from the high does look impulsive, i.e. further decline in a larger corrective movement is expected later. I guess one could also count the whole move down from the all time high as a "C" with A and B having come earlier, originating at the prior top in April, but either way some sort of move up would look good. Doug

#4 hiker

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Posted 06 November 2006 - 05:16 PM

11/6

today's high is marked

closed today one cent above the 20-day ema, which has represented resistance since early August


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why is it important to wear sunglasses, even on cloudy days?

UV damage to the eyes is cumulative during the lifetime

blindness from UV damage to the eyes is preventable for the current younger generations -

elvis wore shades - by the Cleveland Clinic

#5 SilentOne

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Posted 07 November 2006 - 03:54 PM

Doubled my USO position on today's close here at $52.55. Oil is getting set for a move here and I assume it will a change of trend to be confirmed shortly. cheers, john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain

#6 hiker

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Posted 07 November 2006 - 04:08 PM

thanks for the update, John. I am still flat USO.
why is it important to wear sunglasses, even on cloudy days?

UV damage to the eyes is cumulative during the lifetime

blindness from UV damage to the eyes is preventable for the current younger generations -

elvis wore shades - by the Cleveland Clinic

#7 SilentOne

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Posted 09 November 2006 - 05:56 PM

hiker, USO broke up out of the wedge today. :D cheers, john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain

#8 colours

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Posted 09 November 2006 - 08:54 PM

How is the liquidity on USO ? Can you get out of a position with ease?

#9 SilentOne

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Posted 10 November 2006 - 04:32 AM

colours, The ETF traded on average + 2 million units the last 10 days. How much do you want to buy?? I don't think my 4000 units will sway the market that much. :D The chart swung to a buy on the daily. cheers, john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain

#10 Sentient Being

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Posted 11 November 2006 - 10:58 AM

Nice conversation guys. I'm thinking about treating USO as if the bottom is in and either an ABC or a 1-5 is underway to the upside. Chase it down toward that 10-31 bottom with a buy stop just above each prior days high. If 10-31 breaks I'll back off. If a buy stop hits, slip in my own stop loss and hope there is more upside to come. Maybe a cold winter, on-going opec cuts, etc will push it up a bit.
In the end we retain from our studies only that which we practically apply.

~ Johann Wolfgang Von Goethe ~