Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Wednesday, August 20, 2008

Fade the goldman call

It makes sense that the "reiteration of the goldman call" of 150 oil, would do the same thing as the 200 call did months ago...

Force all the Momentum players in suddenly, and cause a Near term Top. Either in the stock or oil. Oil rallied 3 dollars on bearish builds... and yes, gas is a draw... because it's not profitable to refine it.

But if it causes a spike top in oil, that means it could break down... Which again could give us our Little run.

On a personal note... I'm kind of exhausted from playing all this high volatility motion. This has been going on for weeks now, Day trading momentum longs. then Fade-ing either the swing momentum or the day trade momentum. It's a roller coaster... I want off soon.

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