Significant sell volume has been observable in the crude market over the past few trading days.
Short term this presents an excellent swing opportunity provided that the buy volume comes back into the market as traders hope to buy cheaply and cause a small rally into the end of the week.
I am aware this completely contradicts my last idea, one must keep in mind that they are different time frames and it is not in the least bit hypocritical for a portfolio manager or institutional trader to have both longs and shorts on the same asset or class.
Hang me if you would like alongside the other analysts at Goldman, JPM, Blackrock, and Merrill with sell ratings on overbought equities.
Short term this presents an excellent swing opportunity provided that the buy volume comes back into the market as traders hope to buy cheaply and cause a small rally into the end of the week.
I am aware this completely contradicts my last idea, one must keep in mind that they are different time frames and it is not in the least bit hypocritical for a portfolio manager or institutional trader to have both longs and shorts on the same asset or class.
Hang me if you would like alongside the other analysts at Goldman, JPM, Blackrock, and Merrill with sell ratings on overbought equities.