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Zhong Lu

DOOM has Come (to Commodities)

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(edited)

DOOOOOOOOOOOOOOOOM.  

EDIT: I'd brag about how I sold oil at just the right time (two days ago), if it wasn't for the fact that I bought BABA with that money.  

Edited by Zhong Lu

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(edited)

Probably bounce up from here, but if the second rally fades @ 53-54 (crude) and it tests support a THIRD time, don't stick around.  But most should know this already.

Edited by Zhong Lu

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(edited)

Wow. We're testing support again.  For a third time this week.  Tee hee hee.

Edited by Zhong Lu

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Told ya.  

Are there any support levels for oil under 50? 

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Nailed It!

  • Upvote 1

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36 minutes ago, Zhong Lu said:

Told ya.  

Are there any support levels for oil under 50? 

No. Unless Opec can get Russia to do a real 10 percent output reduction immediately oil below  $48 is a no brainer at the end of Feb. Oil shale producers must be wondering how to exit with the shirts on their backs.   Wonder how long the US stock markets can keep up. The Virus is in control and is taking victims in the oil patch

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We don’t sell that much to China so what’s the problem? Low oil prices are good for the world consumer. If you really want high prices just kill Canadian exports through the US and end flaring. You’ll be rich.

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Well as long as I get the direction right, I don't care if it goes up or down.

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