2/11/2009

You're Going the Wrong Way!



It seems like everyone wants to go long crude oil.

Why?

Because it's gone down a bunch, I guess. So has the DOW and I don't see a big line up to get long on that wagon.

I don't swing trade so the long term trend is irrelevant to me. My attempts at predicting crude oil prices are always wrong, but, it looks to me if you're going long crude, you're going the wrong way.

Daily Crude Oil Chart

5 comments:

Pranil said...

no trades today.. do you only follow your system.

Solfest said...

I try to follow my system. I had one blue bar trade and one 15 / 5 minute trade today.

davidjcairns said...

I came across this video, It reminded me of some of your recent entries, the song is called "Blue Veins" but I think that you should call Jack White and get him to do a specail version -- Changing the words to "Blue Bars" -- It would be everything that this blog longs for,

http://www.youtube.com/watch?v=QyVDdIgmfwk&feature=related

Solfest said...

DJC at my age I feel compelled to say, kids these days.

Not sure why.

You think those boys will live to see 40?

davidjcairns said...

Definitely.