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Stock Thread (27 Viewers)

Haven't posted an oil play in a while, it's been pretty lucrative though.

There's a wedge that we busted out of last week which I think supports prices around $48, think oil can trace near $49 today, set a stop around 47.65 (which would be back in the wedge).

Good risk/reward IMO 2:1

 
fantasycurse42 said:
Haven't posted an oil play in a while, it's been pretty lucrative though.

There's a wedge that we busted out of last week which I think supports prices around $48, think oil can trace near $49 today, set a stop around 47.65 (which would be back in the wedge).

Good risk/reward IMO 2:1
Click to expand...
already 45% of the way there.

Taking some risk down at 48.65

 
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In terms of zinc, there are only two companies on my watch list. I really like CZX.V, which is a speculative buy. As to major producers, you might look at BHP or RIO.

 
Oil closing in on target.

The RB play/profit should give more slack to widen stops.

Took a little more off, locked a healthy profit, now hoping the flyers I left out there can fly.

 
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Gold bulls look ready to throw in the towel, as mentioned still holding a short here, think 1300 is coming, upped stop from 1315 to 1317.

 
bueno said:
FC, what is it you do for a living?
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I work in technology and advertising, even mix of the two encompass my day to day.

Days like today are fantastic though bc a good amount of my clients/partners are Jewish, hence all the free time and more chances to look at charts.

I've been spending more and more of my free time learning multiple markets and futures/options (I've decided soybeans and cattle are probably the hardest to trade, so I'm trying to avoid those). More time learning intraday/week technicals. 

The oil play today was a result of a long from last week. It was a rising wedge I played Thursday/Friday, we busted through it overnight, then came back to the top of it, to me that meant it had good support there and the R/R was extremely appetizing. 

 
fantasycurse42 said:
I work in technology and advertising, even mix of the two encompass my day to day.

Days like today are fantastic though bc a good amount of my clients/partners are Jewish, hence all the free time and more chances to look at charts.

I've been spending more and more of my free time learning multiple markets and futures/options (I've decided soybeans and cattle are probably the hardest to trade, so I'm trying to avoid those). More time learning intraday/week technicals. 

The oil play today was a result of a long from last week. It was a rising wedge I played Thursday/Friday, we busted through it overnight, then came back to the top of it, to me that meant it had good support there and the R/R was extremely appetizing. 
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You seem quite knowledgeable. Me, I just do commodity stocks because I know the market, most of the players, etc.

 
bueno said:
You seem quite knowledgeable. Me, I just do commodity stocks because I know the market, most of the players, etc.
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Thanks, oil is a market I have a pretty solid read on, better than all other markets... Trying to branch out so I'm not locked into one trade when I make them.

 
Sand said:
Go with what you know.  It's profitable, so why eff with a good thing?
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A lot of trading oil relies on currencies, so I've spent a good amount of time learning that market over the years and have a good understanding of it. I'm pretty confident in my Euro short tonight. Euro rallied 100 pips on the DB news Friday (which turned out to be false), so my thoughts are that it will give most of that back.

Livestock/grains are something I'm sticking my toes in, but that #### is insanely volatile, so small small plays. Treasuries are a great market bc from my watching, it sticks to the technicals more than most of the other markets, but treasuries will eat you up and scatter your ashes in the Atlantic at $31.25 a tick, so small there too. Also, sometimes a currency play acts as a hedge on an oil play. Gold is another story, I've gotten my ### handed to me there, but it keeps failing at key resistant points and it just looks like 1294 is in the cards, I'm pretty small on the position, it's a swing. 

But I'll trade oil larger than most other plays, I just need more than 1 position (or two with RB in the mix) open at times to hedge and not put it all in one basket. The more I trade, the smarter I'm trying to be about it in terms of R/R. The oil play today is a good example. My average position was $48.07, I had a stop in at with 40 ticks of risk looking for 100 ticks of profit at what looked like the most probable levels. I'm also using T1 and T2's more now. I took some off after 50 ticks of profit to guarantee a winner, something I've been doing lately, not letting a winner turn to a loser when I've got wide targets. 

I'd honestly love to trade all day, but having a good job takes the stress off of it and reduces the pressure, so I trade without as much anxiety about having a loser. 

 
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bueno said:
I know these guys since the Formation Capital days. I put together their Mexican subsidiary for them. I've looked at the core. Not on my buy or hold list.
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stock is up up almost 600% YTD. gj?

 
Aaron Rudnicki said:
stock is up up almost 600% YTD. gj?
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My interpretation of all of this, whether accurate or not: bueno doesn't believe in the company.  GM doesn't care, because he's not playing the company.  He's playing that the increase in the price of cobalt is going to make the **** float right beside the ships.

 
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I'm just in shock from this GC move, pretty amazing, could not be happier. Even those that bought on the fall are now feeling the pressure.

Pressure still remains downside IMO, but I'm taking no position in either direction right now. There is some very strong support around 1281 IMO, but not sticking my hand out now.

 
Bob Sacamano said:
My interpretation of all of this, whether accurate or not: bueno doesn't believe in the company.  GM doesn't care, because he's not playing the company.  He's playing that the increase in the price of cobalt is going to make the #### float right beside the ships.
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mine too.

rising tide lifts all boats or something.

GM said all along the company is garbage. not quite the point if Cobalt is going to blow up, and there's no other good stocks to target.

 
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Something spooky happening in the market... You guys pull up the Euro chart (just do it), combined with gold, be on your toes... Something is up.

 
Gold could be making its biggest one day move in a very long time.

Just across the wire:

ECB said to be tapering purchases by $10B a month

 
fantasycurse42 said:
I'm just in shock from this GC move, pretty amazing, could not be happier. Even those that bought on the fall are now feeling the pressure.

Pressure still remains downside IMO, but I'm taking no position in either direction right now. There is some very strong support around 1281 IMO, but not sticking my hand out now.
Click to expand...
1268 is huge support for gold, if it gets there, Im prob a buyer.

 
fantasycurse42 said:
Gold bulls look ready to throw in the towel, as mentioned still holding a short here, think 1300 is coming, upped stop from 1315 to 1317.
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I mean, I knew they were ready to throw in the towel, but this is just absolutely amazing to watch gold unravel like this. 

1268 is very solid support, but IDK about getting in front of this freight train.

 
Bob Sacamano said:
My interpretation of all of this, whether accurate or not: bueno doesn't believe in the company.  GM doesn't care, because he's not playing the company.  He's playing that the increase in the price of cobalt is going to make the #### float right beside the ships.
Click to expand...


Aaron Rudnicki said:
mine too.

rising tide lifts all boats or something.

GM said all along the company is garbage. not quite the point if Cobalt is going to blow up, and there's no other good stocks to target.
Click to expand...


We need to buy physical cobalt.  @General Malaise

 
Would like to invest in Simpisafe a home alarm system you install in minutes.  Any idea of their parent company, etc. as can't find them on exchange.

Thanks.

 
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