Member Info for downbutnotout

only 1 oil stocks i own. Ophr (OPHR). top dog today :)

ROS i'm not a small time player. my turnover in trades is in the £millions pa.

squeaky bum time..dropping back..but how far..?

SP can't get back above 50DMA @ 122.60p. sub 115p next stop.

the 50 DMA is an important technical level. it usually acts as a support/resistance..

i will use one of the shares i've traded as an example of how important an influence it can be on the SP. a couple of days ago Brown Group (BWNG) closed down at 152p less than a penny above its 50DMA after its CEO stepped down. next day the SP tanked even though the news was already a day old. maybe helped by the MMs opening the SP below the 50DMA. The rot continued into today and i picked a few more shares up at near 131p this morning. SP closed at 138p not bad gain for a Friday eh? now i'm expecting a bounce over the coming days to at least the low 150s as thats the 50DMA. if that breaks it will fly higher. all in all i'm happy with my re-entry price. some some patience likely required before the 50DMA gets broken but once it does it will be supportive of the SP.

maybe Monday we'll see 117/118p then..

oil has bounced a wee bit post 4:30, it flew through the EMA50 without a pause thats why i say the market is crooked. the EMA50 should have acted as resistance. WTI 68.73 is a key level to hold. maybe that will get tested again this evening.

back up to test resistance at WTI 69.74

oil just rose $1 in the space of 10 minutes. rise started just a few minutes before LSE close i think.

below 122.57p 50DMA

117.5p coming IMO

could be a good buying op in oilies this afternoon with it being a Friday.. oilies are still above this morning's low yet oil has broken an important support level. so a good chance SP of oilies will fall lower. 117/118 for PMO looks likely.

could be just a spike out of the bearish channel after a false rumour.. so back down soon just as quickly as it rose..

thank you SK.

oil not looking good now.. down today boys.

ningaloo - take Friday off and have a long weekend break-away. more pain tomorrow.. got back into some cash by selling something late in the afternoon. i spent over 20k this morning and cleared my piggy bank out!

i don't think the oil bears could of asked for a better day than today. it looks like oil is about to close below an important support level. i've seen this type of thing play out before. where the oil dips a few days before inventory data is out. the big drop if its to come probably won't come until next Tuesday when API figures get released. until then maybe a little downside and Olivia will just rest on a support level.

I got 10k invested in a gold stock. i think gold miners got oversold after gold broke a long term uptrend. price paid was half it was on brexit day when gold stocks surged by around 30% if i recall.

you were saying $80 before? now its $79?

the downside targets for oil look very scary from here..

WTI and brent seem to be tracking each other. so my reading of technicals for WTI are still applicable. may see sub $68 WTI by close later this evening.

any correlation? one was up the other down.

timber!

i said it was overbought..

noooo if gold closes above 1214 then 1235.24-41.64 area next.

i think some resistance in the 1220s. i may click the sell button then..

bought back most of what i sold around 157p.

a close above 152p would be positive. its possible but i don't know how likely. support was around 135p, dropped a wee bit below that today.

get in there duracellAA.. 130s today. i know i did.