OUTLOOK: OIL
IT'S BACK!
Oil is going up again
I buy on RED days, sell on GREEN days.
But will the rise in crude reflect in the stocks?![]()
As a long time BULL I warned in a post on June 15 that oil was going down. Now iam back 🗣🗣🗣
250 easy... then???
Now a look at QQQ because it has a similar chart on the weekly, but with some very important differences. $Invesco QQQ Trust(QQQ.US$
The OIL stocks generally have more upside left on the weekly charts.
I believe we see something similar to November when the market turned bearish but oil stocks turned up. Or the start of the year when the markets plummeted but oil stocks ran. I believe oil & stocks will pull back - maybe this week, and then continue another BULLISH run as the markets (QQQ) especially the Nasdaq start to FALL
I have been accumulating positions, but until this weekend believed OIL and commodities would turn with the market. I now believe they outrun the general markets. I will be heavy loading on what I hope are a few red days 🚛...
They will crash back down, but I think now should run longer on the peak.
As always,
Good Luck ![]()
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Engineer, Commodity Buyer, Alert Bettor,
Tesla 🌬 Commodities BULL🐘 Precious Metals Dragon 🐲 and OIL Trumpeter 🗣🎺
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Dons hobby : Thanks iam I always want to know what your thinking and thinking about my friend. I hope you will stay connected to the group. It's The people like you that know your stuff are what will make the group stronger my friend. I know your a busy man but I hope you have time to check things out in the mornings and please if you have any thoughts or comments I would really love it if you would share your thoughts and insite on whatever you would like to say on whatever you thinking
I hope you had a great weekend and I hope you kill it for the rest of the month bud.
ReStart Hope : Oil getting back up, will it also trigger USDIndex to turn back up? I think this will be chain effect and trigger the fall of market.
warrior-sailormoon : I already sold some shares on last Friday n preparing to load 1 or 2 calls on Oih tonight. But will quickly sell it to lock some profits
warrior-sailormoon : My bad. I meant tomorrow. I’m in Asia
iamiam OP Dons hobby : thanks Don! always appreciate it...
I try to follow the group, but you guys play a lot of tickers that just arent worth it for me, i would have to buy half the float to make it worth it (which I'm sure everyone would love - but then I'd have to SELL half the float later) I will buy low cost stocks like DNN or various other miners, but I hold and accumulate those and slowly sell off once they've quadrupled.
But if ever you want me to look at a ticker I will, I just don't calculate stocks like say spy does, I play chart driven momentum on mostly commodities and indexes, bug stocks big float lots of option buyers.
But I always wish you guys the best, and love to see those stocks run, just remember that this rally especially in meme and penny stocks is short driven and soon they will win again so tread carefully, but this should be a decent week.
iamiam OP ReStart Hope : yes, dollar is going higher 109
Dons hobby iamiam OP : Thanks iam I appreciate you my friend and I will keep a close eye out bud. I always want to hear what you think about everything. I know you aren't usually looking around in my neighborhood, when I get to be a real trader maybe I can play in your neighborhood lol.
Thanks iam