Cuddles1997-1999

Cuddles1997-1999 Updated 

Before the OPEC cut my original price target was 55 and I had added from 46.3 to 43.3. There were a number of huge multi billion dollar buy ins one day at close around 46.3 and the subsequent floor was around 43 so if we assume that "big money" people kept risk/profit at 3/1 (industry standard)... the final target must have been 55. I don't know if they were...

Cuddles1997-1999 Updated 

1200 was an obvious double top. If you use cup/handle patterns then a 30% retrace max (for a handle) is 880. If you use simple retraces then a 50% retrace from the last short term move from 580-1180 is 880. Bitcoin bounced off of both of 880. Could test 1200 again. Given that people in China aren't allowed to buy gold anymore due to their government stemming...

Cuddles1997-1999

The majority of hedge funds had 70% of their non-realized profit in their top 3-4 holdings before the election. What I thought could happen is that they would take profit causing a dip in the S&P as a whole, but with a republican government fostering growth in the repressed industrial sectors like shale and manufacturing I think we will just see a shift from the...

Cuddles1997-1999

Black line shows what I think will happen. Oil will move up until end of buying new contracts this month, then settle lower as people take profits throughout. The same thing happened last month with profit taking adding 3$ to price of oil. The other line is the extreme of the same idea, the higher up it goes, the more profit taking will happen. Either way, don't...

Cuddles1997-1999 Updated 

I know Vitol chief said that opec cuts aren't enough, so did Goldman. Aka, they're trapped short. I assume that's why we didn't break up much today based on DXY going down and a 300k cushings draw on genscape. This is a hypothetical H+S. I'm not in long, but I will hope to short at this long term down trend line. 47.58

Cuddles1997-1999 Updated 

I was rather surprised that the price rallied today on the announcement that there would be no decision in Algiers. It could be that the price was already factored into where we were trading this morning. The red lines indicate what I think will happen if that is the case, assuming a bull EIA (api/genscape draws). Otherwise, people are still holding their...

Cuddles1997-1999 Updated 

The numbers today on EIA didn't add up properly, there is some sentiment that the 6million draw should have been 2million. I see a cup/handle formation. Looking to exit short from 45.45 at 44.7 (at the lowest) as a cup handle and also as people exit positions in anticipation of OPEC.

Cuddles1997-1999

Wti bounced off of the price floor that is the highs of the first day that OPEC announced possible freezes. Furthermore, Libyan oil exports were disrupted by military conflicts. There was also a huge supply disruption in east coast gasoline, so I expect a long trend next week. Also, Managed funds closed 22% of their shorts last week, we could see them waiting for...