Posted in: commodities-and-mining
RE: OIL CHAT2 Aug 2009 20:13
Just an observation, TIE you have been posting info similar to CT8 regarding oil hitting $55 (see previous page) and both of you have expressed that fundamentals will be followed. Though my question to that is why then does the stock market not follow fundamentals either. Some would argue when PE values of companies are being repriced, the market itself should be similar.
Back to oil, ND take it your day trading oil? The move last week was rather unfortunate if peope were caught in it negatively. I think TIE plays an interesting game as he is able to hold and cover all unless there are huge movements (similar to last week). Works quite well but unfortunately not for everyone if you do not have the margin to cover it.
TIE - question for you, your longs do you run a stop on them and if you do at what levels. Why is this important? It sets out your strategy to others who may be trying to use similar but do not have the same base. i.e swing trading with enough to margin to cover is different from day trading.