Oil is NOT Doomed

[Zhong Lu + 845]

Interesting vertical line going straight up at 4 am.  Hrrrrrrmmmmmmmmm.  Hmmmmmmmmmmmmm.

EDIT: Actually that vertical line is hitting across all of the futures.  S&P futures just flipped from red to green in like 3 minutes.  They do it at night while the fear mongers are still worried about the corona virus.  Ooo la la panic panic.   They get to wake up in the morning with their accounts unexpectedly hurt.  Maximum chaos and fear for those who bought puts or shorted.  

Tee hee hee.  Why am I not surprised? 

Edited February 5, 2020 by Zhong Lu

[Zhong Lu + 845]

And you know what the news will say tomorrow morning? Oil went up because of OPEC or something.  LOLOLOLOL.

The machines move the price and make the money.

And the human fools make up a story for it, to justify to themselves the price action AFTER the fact.  Just like what they do in politics.

Edited February 5, 2020 by Zhong Lu

[Zhong Lu + 845]

10 day above acting as resistance.   Not out of woods yet.  But that giant green candlestick out of nowhere at 4 am at night generally signals reversal.  The whales may be turning.

Edited February 5, 2020 by Zhong Lu

[Rob Kramer + 696]

I read Chinese buyers stopped buying and with the news traders and the trend computers all catching some action... if the chinese start buying again (at far lower prices) then the trend reverses and undoes all the previous work causing a spike? That correct ish? So kinda like a big game duck duck goose or musical chairs 

[Boat + 1,323]

17 hours ago, Zhong Lu said:

And you know what the news will say tomorrow morning? Oil went up because of OPEC or something.  LOLOLOLOL.

The machines move the price and make the money.

And the human fools make up a story for it, to justify to themselves the price action AFTER the fact.  Just like what they do in politics.

It’s the same everywhere. As a huge sports fan the writers in the “sport reporting”  world are filled with disinformation stories. A diversity of opinion is fine but claims of collapse or in mortality on a couple game trend is normal 😂

[Zhong Lu + 845]

20 minutes ago, Rob Kramer said:

I read Chinese buyers stopped buying and with the news traders and the trend computers all catching some action... if the chinese start buying again (at far lower prices) then the trend reverses and undoes all the previous work causing a spike? That correct ish? So kinda like a big game duck duck goose or musical chairs 

It was due for a bounce just because of how oversold it is.  Just follow the charts.  It went under 50 because someone was hunting for stop loss (automatic sell orders if it falls underneath a certain price) and the moment they picked up those futures they immediately ran it up.  

But otherwise, yeah.  Good analogy.  Trading is musical chairs but with money involved.  

Edited February 6, 2020 by Zhong Lu

[Zhong Lu + 845]

Crystal ball foggy.  Consider cash.