Can someone explain to me why all of the Oil stocks are being shorted even though it's most likely oil will continue to gain in price over the next few years?

perma Brew doomster said:

---

I don't know. MOC was 11 B to the buy side. that volume was unreal this afternoon. I'm not saying recession canceled, 5000 S&P inbound. I just think short term this could be a nice wave up, maybe even peak out of yearly downtrend line and really throw the bears off.

It seems too that this board is too bearish. Maybe that is another reason why markets are ripping!

I'd hate to be long January and February though!

oh and from the man himself:

Best look is once we fill the 4083 I would expect overrun to 4119 high on that candle. As high as 4150, but we get that and its an easy short for Model T between that and 3950.

— Disciplined Trading (@oldarmy1) November 30, 2022

---

Like I said, I wouldn't advise anyone to gamble with short term puts trying to pick the top but the underlying concerns remain. Imo, this isn't a reversal and the economic headwinds remain. December should have more up than down days and J Pow did exactly what I thought he'd do. The huge MOC was probably algo programmed trades. I agree with 30K that it'll give some back. I think we get follow through at the open but wouldn't be surprised if we go red. This is definitely a traders market this month with bias towards the upside. If you can't watch your short term plays then don't play.

Getting a lot of "Black Friday sale extended" marketing emails.

Golf1 said:

---

From listening to the first 20 minutes of the speech yesterday I would've put my life that day would end red. Instead SPY went up 15 dollars from its low and is still on the rise pre market. TA says it's overbought but I'm learning just how much the big money people can move the market regardless of what you would think should happen.

---

I expected this and will look to fade the open.

It's really not surprising thinking about it all now. Pretty clear and easy chance to trap the shorts and that's exactly what happened.

Did you catch the squeeze prog?

Pre-market looks bonkers

Charismatic Megafauna said:

---

Did you catch the squeeze prog?

---

yes

ETA: I didn't expect that big of a squeeze though

perma Brew doomster said:

---

$ES futures closed the gap with overrun searching for resistance. https://t.co/1votOOjMFV

— Disciplined Trading (@oldarmy1) December 1, 2022

Yesterday, #ES_F cleared its 200dma for the 1st time & broke out a month long base. This starts a new leg - my 1st target was 4080 & cleared/backtested overnight

Plan today: As long as 4075-80 keeps holding (4050 backtest lowest), 4115, dip, 4140 in play. 4050 fails, we see 4010 https://t.co/sQ62Vu9P76

— Adam Mancini (@AdamMancini4) December 1, 2022

---

Gonna watch the market for a few on a dip but I may roll on a $410 SPY Lotto for Tomorrow - see if we magnet up to 4100.

And when I say lotto - I am literally talking about 2 option contracts for a couple hundred. Nothing super rich.

I have a SPY line at 407.75-ish. Looking to see if it bounces there

SF2004 said:

---

Not surprising to me either after the stupid pump on a .2% reduction in CPI last month.

There is nothing good about the macro market or economy right now and this pumps. Pretty much all T/A indicators show that you should be short but I now trust none of them so my trading portfolio is exposed very little.

Just playing for a pop in volatility in the next couple of months. Tough to beat buy and hold just doing that.

---

Right there with you.

Aiming for the pre-market high in the first 30. If it blows through, we are moving up to 414 IMO.

Increased volume this morning so pay attention.

Fade me.

Buying 405p for next Friday. 12/9

There goes "Net Clicks"

OXY... being shorted like XOM...

Tick tick tick

FJ43 said:

---

Fade me.

Buying 405p for next Friday. 12/9

---

I did not fade you. Already up too much to hold these. Haha

Interesting that Cocaine Bear the movie has been all over my twitter this morning

FJ43 said:

---

Fade me.

Buying 405p for next Friday. 12/9

---

Damn, what timing.

This is why. Just charts guys…

Green line is what my target is but trailing now with wide gap since next Friday expiry.

The trendline has spoken

FJ43 said:

---

This is why. Just charts guys…

Green line is what my target is but trailing now with wide gap since next Friday expiry.

---

So you are short with a target of 401 with a trail stop?

I am trying to understand what you are staying.

Yes but I won't let the trails go nothing but largely green.