Thursday, June 19, 2008

Index Charts: CRUDE Looks To Be Topping Here. Positive For Everything Esle


BUY ON THE DIP said...

is the energy trade really over?



love your site stewie!

Stewie said...

hi BOTP.
energy trade far from over but the momo i think will die down slowly and you will get your wish of 'buying on the dip'. cheers mate.

Anonymous said...

Stewie, the last time you said oil was at a top it went up another 20%. It looks to be consolidating for a breakout long.

Don't get me wrong, I think you're a fantastic trader but think you're wrong on this one.

good luck!

Stewie said...

lol. I think you're right anon. i am a trader who quickly adjusts when i am wrong. more than many. No matter how strongly i feel about a direction, i can switch my stance on a dime. I have been trading too long to be a stubborn dude. stubborn dudes don't make money. and I never ever short a 'topping' mrkt. I usually short weak sectors in weak mrkts, that's why SKF and i are best buddies this year. I know that topping mrkts never reverse in one day. they could take days/weeks to form tops and then collapse. my patience don;t allow for that kind of holding period. haha! either way, interesting times, volatile times and that's all we can ask for as traders.
have a great weekend.

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