oil is an animal so wear protective gear

Well we told you to sell at 48 and it settled at 46.25 open outcry and 45.75 extended

so all should be fine after our one misread in 30 reports- this one is tricky after if the numbers come right i gonna suggest we pay attention sunday night as overnight trading action starts

if the cut is 500000 it is probably priced in and i would then sell strength if no cut is made

i would sell even on a gap down because we should see 40-42 in no time. this oil is an animal

48 yesterday possibly 40 tomorrow 42 the day before. ironic thing we touched on once before  is these cuts are actually bad for oil prices middle term because it increases capacity-that was the threat that drove oil to 150 not so long ago diminished capacity  to serve ravenous Chindia!

For now trade the range and be thankful we have something we can predict with reasinable accuracy

you get the point

we hit 48 sell to flat take a small short here numbers due out on deficit should show shrinkage which used to be good news but it should finally hit these bullish oil players that we are still in a deep recession that leaves us overbought on about every indicator i check so look out below short term

morning wood

oil up .75 no surprise this morning as oil reconverges with  sp and stimulus

keep in mind the economy hasnt changed yet this is sentiment and trend

but that can go a long way i have to qualify this if markt crashes oil will as well

right now i see 49-50 on my chart-

chart start

got a false read on the bottom of the buy channel it is so easy to see in hindsight  but now it looks like we have a few more points to go on the upside this cut hasn't and wont change inventories so look out and tread lightly because oil is bigger than even opec expect so more violent moves 

up and down

opec made the announcement of cut

all bets are off opec made the cut chart will be re-assessed 

keep u posted

sell the news

the chart looks week-but I fully expected oil to rally this is a precarious bounce i'm tempted to sell here but i think you should get one irrational run between 44.5-45 

since i'm so  writing this it already dropped to 43.5 so pick you spot and sell and you should see 41 at some point and then 100% re-tracement of rally to 39.5 this commodity  is range bound forget boone pickens 60-40 scenario

EIA inventory triples expectations

Inventory trumps all other data and inventory was up 3x more than hoped

gasoline had better numbers than expected but when all was said and done oil went into freefall after the mixed messages-  

here is the deal tankers wait off coast oil blows throw 48.90 because of good EIA number

tankers drop oil at higher prices inventory goes up oil goes down

we are in a trading range for some time to come because of this scenario 

so what now- as we speak oil is trading 42.75 

opec is meeting this weekend so i c support between 41.88-42.20 short term buyer at these levels

after tomorrow  we are likely to re: selling the news if only this number wasn't so bad it would have set up beautifully 

think fast

wow futures and market rally hard and  oil had it's part  in that but it needed a breath

here even though market was up so sharply i'm  a little but not all that surprised-

i think oil still wants to go down but the market will pull it up eventually so we have to wait for 

it to commit before we make a prediction 

tuesday's to do list

when we awoke this morning the crude looked 46.87 at the uppermost spot on our buy channel

this rally looks like it needs to catch it's breath short rally's today we should see a nice entrance price from the short side sell at 49.90 or if if future turn south anything below 47.75 should be fairly safe to sell-look for a return to 44-45 levels which would land us back at the bottom of this buy channel and a position reversal would again be recommended

if you mess withy the bull you get the horns

here we are good advice on where to get out is not enough and this analyst knows it

oil has retreated from its lofty levels as predicted to drop below 36.5 nibble on these pull backs this beast is still not tamed

streak continues

by now i should be developing a cult following as my research and technical have guided us safely

and profitably up to 48.30- now it seems we are at the top of a buy channel to me the bull run will need to catch its  breath one day at least it fels a little heavier here like it could drop

but over all 50 seems inevitable trade for a point but let us not become reckless

hope your account feels good

wow 48.5 and climbing i told you so

sometimes we get a little too greedy

oil is obviously strong and now has clearly laughed off a down 100 futures outllook 

to blow back through 46 and touch 47 bounced off of that and down a shade 

but there to me seems like your trading range at some point this thing is goon a blow up 3 

points all it needs is the market to get a little better so buy the next dip if we are lucky we will get one more down low 46 high 45's- lets not let the next one pass us by

futures come tumbling down

oil is back to unchanged and we told you this might happen if the futures got annialated 

the bull trend is not over this is a chance to buy the dip but not yet 44.ish low area and u will check in to give the final go ahead but this market is still very sick

something to the axioms

u know all the idioms-"don't fight the tape"

the "trend is your friend"-

we will need to rely on our old sages here once more but i think oil will fight the tape all by itself

the market will have to cash hard to pull oil down with the futures dropping from up to up 9

oil has barely budged more likely oil will pull the market up as it did late friday

-buy the dips another one of favorites comes into play and obviously as far as oil goes  the trend is up but after opec meets and  we will consider the price "buy the rumor sell the news" it will be time to short again we may be well into the 50's then

sunday comes once a week

and oil trading always gets the party started-if you listened again then you like me are smiling this evening-oil up a half point already we are going to find a nice entry point but unless futures crash will likely take a contract overnight- we are in the top part of the bull channel

swimmers so there are horns in the currents look for a pull back at some point tomorow to get long for a ride in the meantime scalpers leg fro the left