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Taking a profit

Started by denleo , May 07 2008 10:00 AM

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6 replies to this topic

#1 denleo

Member

Chartist
3,097 posts

Posted 07 May 2008 - 10:00 AM

USO just jumped to 98.80. I closed the rest. Airline travel expenses paid for for a few years to come. Still long the Dollar (see posts two weeks ago). No positions in the stock market. Denleo

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#2 SemiBizz

Volume Dynamics Specialist

Traders-Talk User
23,217 posts

Posted 07 May 2008 - 10:11 AM

We're swimming in oil and gasoline according to the inventory report... So why is USO/Crude holding it's woody? Pretty clear to me, energy markets are telling us that the dollar is a piece of trash regardless of the attempts to prop it up... Price is going higher regardless of what the market THINKS the dollar is worth.

Edited by SemiBizz, 07 May 2008 - 10:12 AM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics

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#3 denleo

Member

Chartist
3,097 posts

Posted 07 May 2008 - 10:18 AM

Do you get the same message from Gold or other commodities? Oil is on its own now. I don't care about it. All I needed is free airline tickets for several years. Denleo

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#4 steve

Member

Traders-Talk User
144 posts

Posted 07 May 2008 - 10:26 AM

Most energy hedge fund traders and say US energy reports completely unreliable

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#5 zman

Member

Traders-Talk User
1,215 posts

Posted 07 May 2008 - 11:05 AM

Most energy hedge fund traders and say US energy reports completely unreliable

all or most reports from those morons in washington are unreliable...nothing they say anymore can be trusted...never!

Education is the best defense against the media.

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#6 mogreen

Member

Traders-Talk User
686 posts

Posted 07 May 2008 - 11:26 AM

USO just jumped to 98.80. I closed the rest. Airline travel expenses paid for for a few years to come.

Still long the Dollar (see posts two weeks ago).

No positions in the stock market.

Denleo

Hey buddy...nice trade! You bought at 96.70 and sold 98.80? Did you buy stock or options?