catch22 + 244 nn October 18, 2018 (edited) very significant downward move on oil right now... getting into over sold territory - get ready for the bounce - my best estimate will be the 78% retracement of previous bull run from bottom of last swing upward = $67.68 it could bounce from around that level. Of course - it may keep going from there - at the very least it should make a pause for while to allow oversold RSI to subside... Edited October 18, 2018 by catch22 1 Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 13 minutes ago, catch22 said: very significant downward move on oil right now... getting into over sold territory - get ready for the bounce Do you have a reading for how high of a bounce might come, where the bounce might peak at? Share this post Link to post Share on other sites
ATK + 355 AK October 18, 2018 15 hours ago, Top Oil Trader said: ATK the learning experience should be, not to get manipulated by the media, or other big time analysts. As i have shown you many times, you get it wrong at the top, and wrong at the bottom. But these guys will be coming back every week, because they can always pull out a reason for a move out of a hat at a moments notice. I'm not sure if you are talking about me specifically lol, I trade intraday swings where I feel like you trade longer term, but with that being said good job on the call. I honestly just want to hear your thought process with your trades instead of just you saying a price and we take your word for it. The way you talked out your trades the other day was perfect ( I even said so the other say), regardless if they are right or wrong, the very least you are presenting an argument and we can weigh the reasoning behind it. I personally just don't like people telling me things without some kind of reasoning to back it up really. 1 Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 (edited) Wow this looks like the end of the world. Maybe i should have not have said oil price could reach $67, but $6.7 That day may yet come, but not this time around. You are laughing but in 1974 prices of oil rose to $7.09 per barrel and they where still making money. I think it cost them $3 a barrel. And you guys want it to go to $80. Does anyone know what a tulip lookis like? Rings a bell? You guys are trading a commodity that is so overflated, its scary. Its like paying $200 to see justin Bieber, where most would even pay .25 cents to see him. But the crazed hyped up fans, to him, hes is the horned beast. Another thing this reminds me of, is going to a strip bar in vegas. And literally spending 8k per person. Unreal. I have met these women after work, many of them. All i can say is 1 word. You may have recently heard it in the news. Horseface! Edited October 18, 2018 by Top Oil Trader Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 6 minutes ago, Top Oil Trader said: Wow this looks like the end of the world. Maybe i should have not have said oil price could reach $67, but $6.7 That day may yet come, but not this time around. You are laughing but in 1974 prices of oil rose to $7.09 per barrel and they where still making money. I think it cost them $3 a barrel. And you guys want it to go to $80. Does anyone know what a tulip lookis like? Rings a bell? You guys are trading a commodity that is so overflated, its scary. Its like paying $200 to see justin Bieber, where most would even pay .25 cents to see him. But the crazed hyped up fans, to him, hes is the horned beast. I'll go on record: I think we'll see $30-$40 WTI within a year's time. What happened to make you say single digits? Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 Traders please dont look for me, when to go long on crude. For that you need to ask the real traders here, like atk, catch22 and others. its not that i dont want to, but if i continue to do this, i think some evangelist will call upon me, to give them future prophesies. So i need to really keep a low low profile. Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 (edited) Dan you are such a pessimist. You sound like the people who say living in new jersey is worse than living in the bronx. Not only was NJ a bad place to live, still is, but then when they had that big governor christy, wow, i think that guy ate half of NJ Jersey. Edited October 18, 2018 by Top Oil Trader Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 Just now, Top Oil Trader said: Dan you are such a pessimist. Not at all. I want to trade it all the way down! 😎 Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 At 3x inverse, I'll make a killing! Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 And besides, $35 oil will save the world, right? Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 The Saudis might have to cut back to a couple of Mercedes per family though. I feel for them. Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 One day oil price will be a big joke and you will tell your grandchildren how you used to trade oil when it was 70 bucks, and they will look at you, as a big opportunist and be a shamed of themselves that you are their grandfather, when during their time oil will be almost free, as noone will be using it. Share this post Link to post Share on other sites
ATK + 355 AK October 18, 2018 Burn it to the ground! Burn it alllllll to the ground!!!!!! Hedge funds getting ass rammed by SUPPLY AND DEMAND! No more screaming Iranian sanctions 1 Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 4 minutes ago, ATK said: Burn it to the ground! Burn it alllllll to the ground!!!!!! Hedge funds getting ass rammed by SUPPLY AND DEMAND! No more screaming Iranian sanctions What are you looking at? Oil Price shows WTI/Brent down Share this post Link to post Share on other sites
ATK + 355 AK October 18, 2018 3 minutes ago, Dan Warnick said: What are you looking at? Oil Price shows WTI/Brent down Lol yeah that's what I'm referring too, we were at $77 a barrel 2-3 weeks now we are back to 68-69. The fact that longs jumped by 50% in the second week of October just showed how greedy the market was getting on pure speculation You already know how crazy I went when we jumped to $77 after that 8 million crude build lol 1 1 Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 2 minutes ago, ATK said: Lol yeah that's what I'm referring too, we were at $77 a barrel 2-3 weeks now we are back to 68-69. The fact that longs jumped by 50% in the second week of October just showed how greedy the market was getting on pure speculation You already know how crazy I went when we jumped to $77 after that 8 million crude build lol Ok, cool. Do you have a trade? Are you short? Share this post Link to post Share on other sites
ATK + 355 AK October 18, 2018 2 minutes ago, Dan Warnick said: Ok, cool. Do you have a trade? Are you short? I had a few calls because I was expecting a slight draw this week (clearly didn't happen) but I always by puts as a hedge and managed to make back the money I lost and then some. So pretty good day, waiting to see how the weekly candle closes before making my next play though. I'll post that info I have with the ship tracking service I'm part of for you guys either this weekend or early next week 1 1 Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 (edited) i think some of you need to understand the history of oil. research and you shall find Edited October 18, 2018 by Top Oil Trader Share this post Link to post Share on other sites
Auson + 123 AD October 18, 2018 1 hour ago, Top Oil Trader said: Wow this looks like the end of the world. Maybe i should have not have said oil price could reach $67, but $6.7 That day may yet come, but not this time around. You are laughing but in 1974 prices of oil rose to $7.09 per barrel and they where still making money. I think it cost them $3 a barrel. And you guys want it to go to $80. Does anyone know what a tulip lookis like? Rings a bell? You guys are trading a commodity that is so overflated, its scary. Its like paying $200 to see justin Bieber, where most would even pay .25 cents to see him. But the crazed hyped up fans, to him, hes is the horned beast. Another thing this reminds me of, is going to a strip bar in vegas. And literally spending 8k per person. Unreal. I have met these women after work, many of them. All i can say is 1 word. You may have recently heard it in the news. Horseface! Top ( ahem ) Oil Trader, Any idea what the inflated value of $7.09 in 1974 is today ? Well on inflation it is $70.23 on Wage growth it is $102.90 and on GDP per capita it is $132.60 So $80, $90 or even $100+ Brent is more than possible. Could be a bit more of a move down due first on the cards. Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 (edited) Very good Auson. I like it. especially top (ahem) oil trader, that is funny no comment Edited October 18, 2018 by Top Oil Trader Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 Chart i use sometimes. Share this post Link to post Share on other sites
Robert Ziegler + 121 RZ October 18, 2018 28 minutes ago, Top Oil Trader said: Chart i use sometimes. Looks like this is becoming the mother of all buying opportunities..... Just when..... On 10/17/2018 at 8:43 AM, Top Oil Trader said: By the way the democrat ticket will be Hilary/Michelle. Share this post Link to post Share on other sites
oiltrader2k18 + 1 GS October 18, 2018 Why is the price going down? Iran sanctions, low inventory, tornados and now Saudi sanctions. Shouldn't this all increase the price? Then why is the price going down? 1 Share this post Link to post Share on other sites
Dan Warnick + 6,100 October 18, 2018 Hey everybody, I found a picture of ALL OF US! 1 Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ October 18, 2018 Why its going down, because it has to go down, otherwise countries will go bankrupts buying oil at high prices, with lots of ems almost having no money, they need a break once a while. 2 Share this post Link to post Share on other sites
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