Posted by goldnice on 12th of Jun 2021 at 07:48 am
WTIC Oil Breaking out of this beautiful {Triangle} formation.
Notice the {C&H} inside the triangle. The measured target of
this breakout in oil is $84. As in the 1970's one of the best ways
to protect yourself against inflation is to buy oil & oil
stocks. This is a huge tax on the economy.
With regards to this post and the earlier one by someone else
about this market being difficult to trade.... Energy and oil
have been reliable trades in an otherwise choppy market this year.
For people not programmed to buy support, quickly take
profits or that are inclined to chase, trading individual stocks in
this market is super difficult/risky. If there's no plan in
place, just following the crowd, then disaster looms.
One thing that I really appreciate about oil/energy stocks is
that they are chart-friendly and don't appear to be manipulated
like PMs and other equities. When I sort my 100+ trades this
year by winning/losing %, it's no coincidence that most of my big
winners have been energy stocks. They've been trending, with
occasional consolidations that provide good entries.
I'm currently 25% invested, 75% cash. Of the 25%, it
breaks down to approximately 50% energy, 30% metals/miners, and 19%
value/tech stocks, 1% meme stocks. Around 80% of my profits
are from my energy trades. Slow & steady wins the race.
They've had quite a run since the big dump last year, but as
inflation continues to ramp, I agree that they're likely to
continue providing rewarding trades.
WTI, OIH, EPM, EQX, SM, CDEV, PTEN, UNG, UUUU, UEC. Some
of these have had strong runs and need to consolidate, but there
are still some decent setups as I posted last week. Currently
monitoring OIS, HLX, XLE, LPI.
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WTIC Oil Breaking out of
Posted by goldnice on 12th of Jun 2021 at 07:48 am
WTIC Oil Breaking out of this beautiful {Triangle} formation. Notice the {C&H} inside the triangle. The measured target of this breakout in oil is $84. As in the 1970's one of the best ways to protect yourself against inflation is to buy oil & oil stocks. This is a huge tax on the economy.
With regards to this post
Posted by rjdst on 13th of Jun 2021 at 12:12 pm
With regards to this post and the earlier one by someone else about this market being difficult to trade.... Energy and oil have been reliable trades in an otherwise choppy market this year. For people not programmed to buy support, quickly take profits or that are inclined to chase, trading individual stocks in this market is super difficult/risky. If there's no plan in place, just following the crowd, then disaster looms.
One thing that I really appreciate about oil/energy stocks is that they are chart-friendly and don't appear to be manipulated like PMs and other equities. When I sort my 100+ trades this year by winning/losing %, it's no coincidence that most of my big winners have been energy stocks. They've been trending, with occasional consolidations that provide good entries.
I'm currently 25% invested, 75% cash. Of the 25%, it breaks down to approximately 50% energy, 30% metals/miners, and 19% value/tech stocks, 1% meme stocks. Around 80% of my profits are from my energy trades. Slow & steady wins the race. They've had quite a run since the big dump last year, but as inflation continues to ramp, I agree that they're likely to continue providing rewarding trades.
WTI, OIH, EPM, EQX, SM, CDEV, PTEN, UNG, UUUU, UEC. Some of these have had strong runs and need to consolidate, but there are still some decent setups as I posted last week. Currently monitoring OIS, HLX, XLE, LPI.