Sure oil could go up and the whole market could crash... but this is what IMHO capitulation looks like...
Could be Wrong....
Wednesday, May 28, 2008
Capitulation
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2008
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May
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- Materials and oil
- weekly sectors
- Ugh....
- 3 dollar move up in oil from 10:30-11:15Now it's d...
- Cornet
- Oil
- Oh I was going to post about the market
- Not good
- This feels good for a reversal..... You know how ...
- Oil... It'a always about oil
- Optimism
- More Oil
- quote
- Sugar
- Imaninary portfolio and currency
- Kass is in the banks
- Oil is back down
- Have I ever mentioned
- First on CNBC
- Inventory draws and builds
- Nonsense
- Notice that the Dug hit my 50% target and bounced ...
- Come'on $120 oil
- Damn
- Tennis
- No rest for the Wicket
- gartman says sell some of the SPR
- Long day
- Exhausted Rant
- Exhaustion
- OIl
- feels liek a reversal
- Hard day
- Capitulation
- Wow!!
- Euro
- I own
- the 130 level is a 50% retrace in oil..
- 130 oil
- Oil
- $3
- Nymex
- Indicator
- The Trend is your friend
- cbi
- I tell you
- I couldn't resist
- French Open
- Transports and Tech lead the way.
- Euro Dollar
- LOL
- totaly Bearish.... but
- Oil in electronign trading
- bank Thesis
- that feels like a bottom.... The Euro I don't thi...
- Wow
- FreeFall
- Gold!!
- Stupidity
- hmmmm
- You know me, I can't quit
- Where do we go from here.
- If I were long trading the Dug
- Talking to the wind
- Tale of the Tape.....
- Good news
- short covering rally
- DUG
- not to be an ass
- SPY by the day
- Oil again looks to make a new low in the next bit
- Hopefully
- Initial Claims
- There is the Libor Chart
- oil is off $3
- Oil selling off
- AS TK Says... I think we are finding some traction...
- These charts just show that the xlf is working on...
- Challenged
- LOL
- No title
- Dollar Euro
- Futures
- Congress
- Dow indexes
- That look like the start of some sector rotation. ...
- my cnbc trade of the day is Long DRYS and EXMOh, a...
- Energy trade
- Hopefully the trend continues..... the down trend...
- That wilshire index chart
- Ethanol
- So
- Good stuff
- Wilshire index
- Oil
- Dug
- .......
- Come-on.
- Looking at things
- some stock outlook
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May
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2 comments:
Kirk report is putting credence in the "window dressing" thesis for the end of the month.
This would explain the dump KRE is taking, but I'm not sure I buy it since this really is not the end of the quarter.
Banks are mired; they're toxic. Period. Nobody wants to touch them. So maybe it is time to buy! Blood in the streets.
.... I have a tough time... In this market, up till that past month, I would have touched Transports or materials.... but now those seem like a mistake...they are looking more like trades... transports last week had P/Es of 30-40.. and that would be ok if they had 2x growth... But it's a bit hot.
The Euro has 1.5 written all over it....
Seems more and more "To Me" that the only thing to own are the most beaten down things... And they are tradable intraday with 1% moves.
Home-builders are going to '0' Retail has yet to feel the real pain.
Opec has realize that demand destruction of this magnitude would be bad, and will force us away from gas... and though they are running out of it, worse thing would be to sit on Trillions of dollars of worthless black slimy shit.
and "window breaking" as they force the things they want to own for the next 2 years down. Huge volume in all the Regionals I track.
I even bought Calls today.
As I closed my book today, and realized I was heavier cash in a sort of capitulative personal move... tells me it could be the bottom of them... but some of the Ibanks report next week.
It is getting Exhausting Trading in and out of things....
Another thing, oil only did a 50% retrace, which is a standard move in an oversold decline.... except financials.....LOL.....
What is hard, and why I don't post what I'm doing, is that I do things and react so fast to things, that it's impossible to trade with me sometimes...
Another thing.... When the trading Gets hard.... When it's ugly and you are trading in and out of things like mad..... it shows a Reversal is likely.
Um... sorry, I'm just venting after a long day.... I don't get why people what shit like Homebuilders, or retail, or Airlines for hells sake... that all get 2-3% pops in the past 2 weeks.
What I'm getting at is that "oil was up" but not to a higher high." Just silly that stocks are now trading flat on oil declines, and down on it going up....
but Like I say, buy oil on the dip has worked for 4 years... hard to see it break.
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