06/07/2012 Live Update

[Cobra]

this should justify my call. I see H&S Top and the target. And also this explains why I like the failure. it's a failed double bottom, so bulls who're front running have to cut thus fuel on the downside. I like this setup.

Tiny target for big talk..

[Mr. BachNut]

Anyone like USO? Relative to SPY, it's extremely beat up

I have been short USO for a few weeks.
It is due for a rally. Technically, BBs chart is right on.
I thought I was going to get stopped out this morning, but it rolled over again.

There are two issues to be aware of:

1) It is an election year. If you look at prior election years, you will see a tendency (not always) for oil to get weak in the spring months before the election. Perhaps it is just a coincidence...

2) If you look at the COT report, the large specs were big long in March and after weeks of liquidation are still pretty darned long. I think they will be happy to sell to you...

So, it ought to find some kind of bottom soon, but there are some issues. Maybe a big QE can give it some go.

[ClarkW]

Don't know but in TZA @ 21.25.[/quote]

Just got in a little TZA myself as well

[OverUnder]

Again, the transports. Chances of failing at the trendline were very high, and if not, it was the last gasp into a new bull market methinks. If we see it break over that and hold, and make a higher close on the 2nd day, it's ... well ... that's ... not. going. to. happen.

[gappy]

Don't know but in TZA @ 21.25.

Just got in a little TZA myself as well[/quote]
Good Luck. I just have a bad feeling about the rest of the world tonight.

[champix]

Little long on the lower band on CL... let's see

Are you in? H&S triggered

Nope, went long @ 84.22, seen 84.35 and stoped @84.23... will retry @ 84 figure... let's this deal have a second chance... :):)

[BullBear52x]

another one buy the dip spot, one failed so far today. lets see how this one goes.

[Cobra]

support.

[fehro]

retest? close above 20 DMa = 1316ish?

[Mr. T]

Anyone like USO? Relative to SPY, it's extremely beat up

I have been short USO for a few weeks.
It is due for a rally. Technically, BBs chart is right on.
I thought I was going to get stopped out this morning, but it rolled over again.

There are two issues to be aware of:

1) It is an election year. If you look at prior election years, you will see a tendency (not always) for oil to get weak in the spring months before the election. Perhaps it is just a coincidence...

2) If you look at the COT report, the large specs were big long in March and after weeks of liquidation are still pretty darned long. I think they will be happy to sell to you...

So, it ought to find some kind of bottom soon, but there are some issues. Maybe a big QE can give it some go.

I think rolling over is the only trick that dog knows. I'm about to shoot it and put me out of it's misery.

[KeiZai]

Little long on the lower band on CL... let's see

Are you in? H&S triggered

Nope, went long @ 84.22, seen 84.35 and stoped @84.23... will retry @ 84 figure... let's this deal have a second chance... :):)

Okey buddy just watch out of H&S top!

[BullBear52x]

This time is different

[Cobra]

target met. could be more.

[Al_Dente]

another one buy the dip spot, one failed so far today. lets see how this one goes.

fat lady singin' bubba i can hear her
girlfriend (the evil one) awakens
ooooooooooooooo

[Petsamo]

Anyone like USO? Relative to SPY, it's extremely beat up

I have been short USO for a few weeks.
It is due for a rally.

Larry Kudlow said that we have 200 years of technically recoverable oil, thanks in part to fracking. If Obama weren't standing in the way, we wouldn't need Saudi Arabia or the Middle East.

Break

I placed bets on a gap down ... That means we gap up.

[BullBear52x]

another one buy the dip spot, one failed so far today. lets see how this one goes.

fat lady singin' bubba i can hear her
girlfriend (the evil one) awakens
ooooooooooooooo

15min to to tick tock tick tock......

[MrMiyagi]

This target met too:

[ClarkW]

Call me crazy but just bought back a TINY BIT of DUST to go along with small position in TZA.

[Cobra]

new target. not enough time for today. and please do remember everything I say here would be invalid when the closing bell rings.

[sgregs]

Cobra - is the 7 day rule in play?