7 thoughts on “OIL: THE NEXT LEG UP

  1. Ralph Wiederzane

    Apparently over and over. Good call G, and great nightly report last night. I’ve decided to stick to plan after what you wrote.

  2. Ralph Wiederzane

    The Fed had an expedited “secret” meeting yesterday, but also has two more planned, one today and one tomorrow. What the heck is going on?

  3. bill

    IBB 271.2 is strong support. if it breaks it could be considered a false breakout and could drop hard

    1. Ralph Wiederzane

      Good morning Bill,

      I learned over time that when support was broken it did indeed suggest lower prices over time, but in the immediate future the support was more likely to be recovered. In other words I no longer sell breakdowns or buy breakouts as they occur, there usually seems to be a better exit point right around the corner. In fact, I would buy into the XBI breakdown if I were a short term trader, say 3 or 4 day hold times. 🙂

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