$30,000 Millionaire said:

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If there is a push through the highs it is probably worth getting long.

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Charismatic Megafauna said:

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Got an xsp 390 call fly filled for .1 (~389 spy)

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Quote:

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I've worked with countless traders who would spend hours doing market analysis and planning trades for the next day Then, instead of putting on the trades they planned, they did something else. The trades they did put on were usually ideas from friends or tips from brokers. I probably don't have to tell you that the trades they originally planned, but didn't act on, were usually the big winners of the day.
This is a classic example of how we become susceptible to unstructured, random tradingbecause we want to avoid responsibility. When we act on our own ideas, we put our creative abilities on the line and we get instant feedback on how well our ideas worked. It's very difficult to rationalize away any unsatisfactory results. On the other hand, when we enter an unplanned, random trade, it's much easier to shift the responsibility by blaming the friend or the broker for their bad ideas.

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irish pete ag06 said:

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Farmer @ Johnsongrass, TX said:

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Triple_Bagger said:

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How do you think oil will perform during a recession?

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-In short, crude is bullish.
-Investment Banks that review commodities and equities are projecting 2023 average of $90-95 oil, yet the energy equities 2023 Price Targets are like $65 crude. The Price Targets on energy equities is off.
-Further, equities don't chase commodities. Commodities will come up to meet equities. Crude has been underperforming.
-If theres so much crude, why release SPR? (SPR releases should be over)
-DOE couldnt find anyone to provide an offer for Feb23 delivery of crude to the SPR in the $72 to $67 price range. They know crude is going up and they're going to miss the boat on refilling the SPR.
-if you check out Brent and WTI in the nearby and March contracts, using the 5 minute interval for volume, at exacting 225pmET, you will note that someone is establishing a Long position for the last 7 days. The volume of this 5 minute period dwarfs all other 5 minute periods and it's not even close. Yesterday's purchases were about half of the previous 6 days. However, when 12,000 to 19,000 contracts of each WTI and Brent are being purchased and one contract is 1000 barrels and they arent even trying to hide it, for 7 days at 225pmET something is up. I think it is the U.S. Govt buying a paper Long to offset the SPR Short they cant buy in the cash market as a hedge to higher crude prices that are coming.
-The world crude S&D with China reopening will really start to appear in a robust sense in Q2; albeit, you can already see demand ramping China. Air traffic increasing and jet fuel demand in China are moving upward fast, all other energy sectors there will hit full stride by Q2.

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Would an oil ETF like USO or UCO be a way to play the crude catching up with equities?

Or GUSH if we wanted to really go crazy?

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Charismatic Megafauna said:

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If 389 doesn't reclaim and hold i think we see 378.3 again in short order

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Yesterday, #ES_F back-tested its most important support: The 3900 lvl it broke out Jan 6. My target was 3945 and we got to 3940 then chopped. Decision time for bulls

Plan today: 3915-20=support. As long as above it; 3945 (strong), 3960 in play. 3915 fails, we sell to 3900, 3885 https://t.co/If9N550FKH

— Adam Mancini (@AdamMancini4) January 20, 2023