(24-02-2015, 08:54 AM)Behappyalways Wrote: [ -> ]Australian mining giant BHP just told the market exactly why oil prices are going lower
http://finance.yahoo.com/news/australian...39236.html
Err BHP slashing rigs by whopping 40%, which is actually 26 to 16
Their shale production increasing 50% this year probably because they are ramping up from low base as they just acquired the asset 3 years ago IIRC
If 49.5 below for 2 to 3 sessions then bear will take over, But yesterday was one seesion, it must be consecutive 2 to 3 sessions , no break in between to invalidate this bull trend. Let see tonight, There was rumour that OPEC is holding a meeting. But that is not how market react.
I once hold 100 share of SCO, and buy up as oil drop from 80$, till I hold some 600 shares. Even in huge profit, you too would panic as your position get bigger. Thus small is good. Loss small too.
Currently , I am still vested at UCO , only 1000shrs. bought at 6.48, a small position and profit only for now. I think pay back time for me. We can never win at every trade. No one can. But I am not going to give in just yet, till market stop me out.
Thanks specuvester for sharing, sorry if I appear rude.
(24-02-2015, 07:45 PM)yewkim Wrote: [ -> ]If 49.5 below for 2 to 3 sessions then bear will take over, But yesterday was one seesion, it must be consecutive 2 to 3 sessions , no break in between to invalidate this bull trend. Let see tonight, There was rumour that OPEC is holding a meeting. But that is not how market react.
I once hold 100 share of SCO, and buy up as oil drop from 80$, till I hold some 600 shares. Even in huge profit, you too would panic as your position get bigger. Thus small is good. Loss small too.
Currently , I am still vested at UCO , only 1000shrs. bought at 6.48, a small position and profit only for now. I think pay back time for me. We can never win at every trade. No one can. But I am not going to give in just yet, till market stop me out.
Thanks specuvester for sharing, sorry if I appear rude.
So its been two sessions, downward direction now? Bears taking over?
Unfortunately me only have elephant gun, but that should take care of Bulls and Bears..
Haha F.A. people crack me up...
Oil prices weaken further to USD49.10 few minutes ago despite the Greece relief.
(24-02-2015, 07:45 PM)yewkim Wrote: [ -> ]If 49.5 below for 2 to 3 sessions then bear will take over, But yesterday was one seesion, it must be consecutive 2 to 3 sessions , no break in between to invalidate this bull trend. Let see tonight, There was rumour that OPEC is holding a meeting. But that is not how market react.
I once hold 100 share of SCO, and buy up as oil drop from 80$, till I hold some 600 shares. Even in huge profit, you too would panic as your position get bigger. Thus small is good. Loss small too.
Currently , I am still vested at UCO , only 1000shrs. bought at 6.48, a small position and profit only for now. I think pay back time for me. We can never win at every trade. No one can. But I am not going to give in just yet, till market stop me out.
Thanks specuvester for sharing, sorry if I appear rude.
Hope you understand I'm not targetting you but more towards your posts that are pure TA. In this forum we tend to spend more time on substance than in charts.
Truth be told I think the majority of us came through the usual university of life, major in investment
Started with stock tips, technicals, trading, reading investment books, FA, and then business & incentive analysis, in that order. So it is not that we don't understand the value of TA which I think you presumed, but more because TA is ancillary to the investment process.
If you don't have a plan you plan to fail. TA doesn't have a concrete plan, it relies on Mr Market. When things happen one doesn't really know how to react. But if you understand the business you will know how to react ie average down or cut loss ie same situation but different reaction. The oft confusion between these 2 is often a result of not understand what you are doing
Cheers
(25-02-2015, 06:54 PM)specuvestor Wrote: [ -> ] (24-02-2015, 07:45 PM)yewkim Wrote: [ -> ]If 49.5 below for 2 to 3 sessions then bear will take over, But yesterday was one seesion, it must be consecutive 2 to 3 sessions , no break in between to invalidate this bull trend. Let see tonight, There was rumour that OPEC is holding a meeting. But that is not how market react.
I once hold 100 share of SCO, and buy up as oil drop from 80$, till I hold some 600 shares. Even in huge profit, you too would panic as your position get bigger. Thus small is good. Loss small too.
Currently , I am still vested at UCO , only 1000shrs. bought at 6.48, a small position and profit only for now. I think pay back time for me. We can never win at every trade. No one can. But I am not going to give in just yet, till market stop me out.
Thanks specuvester for sharing, sorry if I appear rude.
Hope you understand I'm not targetting you but more towards your posts that are pure TA. In this forum we tend to spend more time on substance than in charts.
Truth be told I think the majority of us came through the usual university of life, major in investment Started with stock tips, technicals, trading, reading investment books, FA, and then business & incentive analysis, in that order. So it is not that we don't understand the value of TA which I think you presumed, but more because TA is ancillary to the investment process.
If you don't have a plan you plan to fail. TA doesn't have a concrete plan, it relies on Mr Market. When things happen one doesn't really know how to react. But if you understand the business you will know how to react ie average down or cut loss ie same situation but different reaction. The oft confusion between these 2 is often a result of not understand what you are doing
Cheers
Well said, it still surprises me that moderators here allow the prolific discussion of T.A. which is the anti-thesis to the "theme" of the forum. See no "value" in T.A. discussion.
Yewkim is a borderline case. So far no chart was presented, and no technical terms was referred.
That is the reason behind for inaction till to-date
Regards
Moderator CF
HAR Oil Patch Update
Quite a few shale oil operators have announced their 4Q results. The apparent consensus among these guys are that they will keep drilling for those rigs that are on term contracts BUT they will defer completion (& fracking) on some the wells until (i) they can negotiate a better pricing from the fracking guys and (ii) the oil price recovers.
Give the above, my takeaway is that the decline in LTO production might come sooner than suggested by the rig count.