Price is at the top of bear flag!
Any ideas...
Is USO ready to short?
Started by
Harapa
, May 13 2014 11:12 AM
2 replies to this topic
#1
Harapa
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Posted 13 May 2014 - 11:12 AM
My comments are for entertainment/educational purpose only. All posted trades are fake (aka. paper) trades.
#2
pisces
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Posted 13 May 2014 - 07:22 PM
Price is at the top of bear flag!
Any ideas...
did some checking and this is the best I could come up with:i have a number of overbought and oversold indicators set up , that I run all my stocks thru. USO is somewhat overbought,but sometimes it takes a bit more before a stock goes down.the flag you mentioned is not really ideal ,especially after todays stick.
now here is a EW count that I follow,it calls for WTIC to go above 102.00 but not quite to 103.00 then down to $84.00 or lower.lastly somebody pointed out a video by NENNER in which he calls for a june bottom in gold ,silver,corn and OIL,his target for OIL then is$122.00, so a number of things fit,and by the end of week might be the time to short it.
in all my years of trading i learned that a lot of things I watch never play out. if I take a shot at a short I will try to post it
#3
Harapa
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- Traders-Talk User
- 1,279 posts
Member
Posted 13 May 2014 - 08:27 PM
Price is at the top of bear flag!
Any ideas...
did some checking and this is the best I could come up with:i have a number of overbought and oversold indicators set up , that I run all my stocks thru. USO is somewhat overbought,but sometimes it takes a bit more before a stock goes down.the flag you mentioned is not really ideal ,especially after todays stick.
now here is a EW count that I follow,it calls for WTIC to go above 102.00 but not quite to 103.00 then down to $84.00 or lower.lastly somebody pointed out a video by NENNER in which he calls for a june bottom in gold ,silver,corn and OIL,his target for OIL then is$122.00, so a number of things fit,and by the end of week might be the time to short it.
in all my years of trading i learned that a lot of things I watch never play out. if I take a shot at a short I will try to post it
Pisces:
Thanks for you input. Actually my setup is still long but I was/am tempted to play the bear flag. May be I will start a small position once oil hits 103. By then my long will be sufficiently over bought. I will post if and when I will start a short position via SCO.
My comments are for entertainment/educational purpose only. All posted trades are fake (aka. paper) trades.
