Dear Readers, preliminary limits for today.
qqqq 44.01-44.33
gld 64.22-66.22
fxe 129.62-130.86
uso 47.84-48.6
gg 27.47-28.15
14:25 ET, I believe USO is heading for top in next 5-10minutes
Ok, I admit it turned out a mistake not get on board of early Energy rally. Believing, we can do it later. Not always that is possible. Neverthertheless, I can not not nor should you question a strategy you have, If it works you stick with it. It may not work sometimes ( that is the life ), but it will work more times than not. There is always "another train(trade)" coming everyday in the way of a trader. The secret is choosing right. GG and Gold Continue to rally, that is another example, I do not regret getting on( just nibbling ok).
Ok,USO acceeded our time for making top looks very strong, but still we think we are closer to the trend exhaustion here.
Good Trading
8 comments:
Hello Boris,
Please opine on whether or not an entry on G G at 27.20 is a wise move. I have this scrapping the bottom of my channel.
Thank you...
Dear Byzanman, I think this is not a good trade for even a day trade. I assume that this little rally is temporary and we will see lower levels next few days. Of course, if you r trade is of a longer/intermediate term view, then you could nibble into it. I think there should better time to buy anything GOLD about the late FEB. Good Trading
Boris
If I can follow up on the byzanman question.
I see a confluence of bottom trend channel, .382 fib retrace, and 200 dma.
I'm no expert on EWave but it also seems to have completed a 5 wave move down on the 15 min intraday right at 11:30am et.
Please advise
TIA to both
Whoops sorry
I should have waited for you answer.
Thanks.
Based on your reply Boris I think I know what to do .
I think. lol
Dear Readers, While Gold recovered some of todays losses, GG was not able to do the same. Stay tuned we should be able to buy these at better prices. Good Trading
Hello Boris,
Thank you for your take on
Gold as I have spent the last hour
looking at it and trying to understand your comments and believe I have an understanding.
My fav play in oil svc is HAL and
would like to know what your favorable entry would be in price.
This has been going up marginally on lower volume over the last few days and can not help but feel that
this may come in at 29.34 over the next couple days.
PCU worked ok for me after today and covered most of my puts BUT I am looking for another opportunity.
Thanks again....
Dear Byzanman, HAl is a member of oil services group, that has done pretty well in last couple weeks. SLB,SII,HAL,BJS are all in the same group. I am favorably disposed to the group, but frankly, considering the OIL is exhausting the short term trend up, I find it hard to jump into any of these stocks. I will say this, if any of these acceeded the monthly high of their own, they maybe a more sure purchases. On the other hand follow my USO forecasts, as well as, aske me on a daily bases what to do with these. There is a 34 and 36 levels waiting if rally continues. Let's see this next week. Good Trading
Dear Boris: I'm sorry you're sorry you missed the energy rally. But I'm worse - I got oih, vlo, xle calls and a clh07 spread - and sold them on monday when oil popped down in the afternoon, being a nervous nellie.
duh.
With all that's in storage it will be back down as soon as the cold weather is done. However, it seems as if we are expecting extremely cold artic air over this weekend. According to accuweather, the coldest in years. It might drive oil, basis march, over 60 for a few days.
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