Matt As you say, charts really do play out. However, you
have to have the right chartist! In the case of oil, before I
joined Breakpointtrades, I had done massive amounts of research on
Peak oil, etc. so I obviously had a hard time trusting your
chart. on the basis of the scarcity fundamentals, Over
time I am becoming more and more confident in not only trusting the
charts but within a range of probabilities, the way you guys
interpret them. I did not short this correction in oil as I
am usually not comfortable shorting bull markets, but hindsight
being 20/20 I'm thinking " shoulda woulda coulda..." Thanks
for all the great work Matt and Steve!
Here's my newsletter way back from
June 8th: Page down to the commodities section and look at my
crude oil charts. You can see the projection 4th wave, funny
how charts really do play out!
My point is, charts play out!
I still view this whole pullback in crude as a major 4th wave in
the big scheme of things unless we head into world wide depression
and none of us want that. The governments will run the
printing presses full time to price as much money as possible in
order to cause enougth inflation to stave of
heck of a call...the cot report still shows only the weak hands
buying, plus options expire on Wednesday, the puts are as large as
the calls were when it was peaking...80s are not out of the
question...long term looks incredibly bullish however...
Crude Oil Long Term Chart I
Posted by matt on 15th of Sep 2008 at 07:02 pm
Crude Oil Long Term Chart
I posted this chart months ago even before crude oil peaked, fully how my wave 4 is playing out
Matt As you say, charts
Posted by vmath on 15th of Sep 2008 at 11:39 pm
Matt As you say, charts really do play out. However, you have to have the right chartist! In the case of oil, before I joined Breakpointtrades, I had done massive amounts of research on Peak oil, etc. so I obviously had a hard time trusting your chart. on the basis of the scarcity fundamentals, Over time I am becoming more and more confident in not only trusting the charts but within a range of probabilities, the way you guys interpret them. I did not short this correction in oil as I am usually not comfortable shorting bull markets, but hindsight being 20/20 I'm thinking " shoulda woulda coulda..." Thanks for all the great work Matt and Steve!
Here's my newsletter way back
Posted by matt on 15th of Sep 2008 at 07:41 pm
Here's my newsletter way back from June 8th: Page down to the commodities section and look at my crude oil charts. You can see the projection 4th wave, funny how charts really do play out!
June 8th, 2008 Weekend Newsletter - see my crude chart in the commodities section
My point is, charts play out! I still view this whole pullback in crude as a major 4th wave in the big scheme of things unless we head into world wide depression and none of us want that. The governments will run the printing presses full time to price as much money as possible in order to cause enougth inflation to stave of
they've already added an extra
Posted by jbarry on 15th of Sep 2008 at 10:16 pm
they've already added an extra $70 Billion today...helicopter is airborne...
http://www.bloomberg.com/apps/news?pid=20601087&sid=azabvVyocFac&refer=worldwide
heck of a call...the cot
Posted by jbarry on 15th of Sep 2008 at 07:28 pm
heck of a call...the cot report still shows only the weak hands buying, plus options expire on Wednesday, the puts are as large as the calls were when it was peaking...80s are not out of the question...long term looks incredibly bullish however...
Matt - once fear subsides,
Posted by pepperwu on 15th of Sep 2008 at 07:06 pm
Matt - once fear subsides, do you see oil and oil stocks rallying again?