Slope of Hope Blog Posts
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Accomplished traders know that the news has little to offer other than occasional context, and mostly entertainment value. This chart is our latest installment in the category of you-just-can't-make-this-stuff-up.
Look at the two articles published by Bloomberg recently. Then, compare the dates the articles were published to a daily chart of WTI futures. Oil was getting ready to launch for the moon. The orange arrows point out the specific days that Goldman and Barclays issued their bullish reports. Sure, the odds are pretty good that the light, sweet, and sometimes crude stuff will hit $100 this year. But for now, all we have is entertainment value.
For your reading enjoyment, here are links to the full articles:
Brent at Nine-Month High on Chicago; Goldman Sees Tight Supply - Goldman Sachs
Oil May Head to $100 With Two-Year Support - Barclays
Apple's Quarter Was Lousy, But Stock Still Headed To $1,000 – Forbes (sorry,couldn't resist)
Originally published at Trade Flight Plan.
The boyz ran out of runway, and had to throttle back for another try.
I read BDI's post about the italian elections and I thought I wanted to make a couple of comments as a post, not just in the comments section.
It's reached the point where if I dare even say that this market is overpriced, I am admonished by some Slopers as to all the great breakout patterns that exist out there, and what a fantastic market this is to buy.
OK, well, you can buy it with your own money. I think the market is more overvalued than 2007, and buying into a chart like this makes as much sense as………oh, I dunno……….having the First Lady of the United States be the featured presenter as the freakin' Academy Awards show. Bread and circuses, people. Bread and circuses.