A lot of hungry bulls are waiting at the 2007~2025 level but they're jumping in at 2026.

It looks like the Dow is leading the reversal here... 17250-17275 is reached.. bam,
the big money institutions jumped in.

Wish me luck.. got some XLE at 65.80. if I can get to 66.80 or higher, I'll be happy.

Oh.. no..

AiYahh.. almost got it. back down again. Gotta hold above $66.

This post has been edited by danmooncake: Nov 14 2015, 01:46 AM

Frack.. kaput already.

Wow.. ikan bilis suddenly grouper.
Hope, this isn't short live.

XLE/OIH all popping up but not sure about UWTI yet. Still seeing red here.
Possibly oil traders thinking more airstrikes could take more more illegal oil wells by ISIS.


This post has been edited by danmooncake: Nov 16 2015, 10:57 PM

Waahh... XLE bounced up strong... I think this weekend we can celebrate!

Wow... this grouper is getting bigger!!

Aiyo... grouper has shrunk back to ikan bilis..

But, need to watch that trendline.. I think it is trying to turn around.

XLE also turning up... almost got $1 back.

Waah.. good to see you guys making money.

No trade for me this week. Taking same holidays as US this week with family.

Waahh... after two weeks of hiatus, lots of ikan bilis here for Oil sector.
But, very dangerous to catch too.

Crude was '08-09 during when it hit around 38... now it has broken this support.
The last low was $20 - early 90/late 80s? but I can't find a chart that goes back to that level.
Does anyone has a better oil price chart that span back decades?

Yet again, sell processed mineral water is more profitable than selling oil now.

Me too but DWTI is so damn volatile. Even when bullish also scary to play.

I think I'm going to watch and see what happens when XLE touches 60.

Triple bottom or create another big hole to the next level.

Really aah?? It was during Asian Financial crisis then...

There wasn't much impact on US economy back then and tech bubble was still growing in US until it went kaboom in 1999-2000.

Well, back then, we don't have much electronic trading, not much financial news to hype about OPEC, no social networking, no internet chat rooms and volatility was low due to little or no HFT (high frequency trading) machines that sell/buy based on patterns rather than fundamentals.

Back in the Asian Financial crisis, we were more worry about our banks and currency speculation than crude price.
I don't think there was oversupply either.. not sure why it was $20 perhaps it was coming off from the lows anyway.

Now, here's the thing about energy supply. Much of the world energy source still comes from crude in one way or another. I think this over supply is just a temporary issue because "we" humans aren't consuming less.

Another thing, we know fossil fuel has limited supply from the ground and the ever-growing human population, we will just consume more and more and we aren't consuming less. Over time, the oil supply from our wells will run dry one day. Now that the petrol/gas are cheaper in US, they (the consumers) will just go back and buy bigger cars and consume even more energy. Take a look at their gasoline hungry 4x4 trucks and hummer? Their auto sales for trucks gone up last month.

Feel free to share your thoughts..

This post has been edited by danmooncake: Dec 8 2015, 12:53 AM

Very dangerous to play DWTI/UWTI... both seems even more volatile than ERX/ERY.
I'll stick with the slower moving XLE. 1-2% on normal day is good enough, on volatile day, 3%-5%.

On the technical side, XLE seems to be making its 8th waves from the last lows in Aug.
That 60 support is the level to watch for and see if it can bounce up or not.

The last 4 trading days been quite a huge move (downside). The last gap in Oct surge also got filled.

Triple bottom or another leg down?

But, I can also see Head and Shoulders formation: left shoulder (Aug-Sept), head (Oct-Dec), only right shoulder hasn't formed yet...

Anyone seeing this also?

This post has been edited by danmooncake: Dec 8 2015, 03:05 AM

Hey guys,

I found this interesting long term chart for oil.
http://www.macrotrends.net/1369/crude-oil-...e-history-chart

That dive in Dec 1998 is pretty steep... as low as $16.38, not sure what cause that steep dive.
But, a year later, it has bounced back and doubled in price.

This post has been edited by danmooncake: Dec 8 2015, 01:11 PM

XLE now touches the 60.xx handle. Ikan bilis opportunity here but need to be patient a bit and wait for market opens
to see if they would puke out even more first. Low 60s.. high 59' ish.


As for DWTI, it is indeed higher but has anyone notice that it hasn't made it back to Aug high at 236 yet despite crude is much lower this time than the last Aug low?

This post has been edited by danmooncake: Dec 8 2015, 09:48 PM

Unless they do a reverse split, which some have done.