I'm sure as a trader you've heard the expression, the "trend is your friend." That was never more true than today as crude oil (NYMEX_CL) crashed to new lows and the stock market resumed its downward trend.
Today we are focusing on crude oil and the reason why it fell to new lows. We're also going to be looking at all of the "Trade Triangle" signals that we have received on crude oil since last July. The video is about nine minutes long and I highly recommend watch it, simply because it shows you just how powerful trends can be.
The video also shows you why price action is more important than fundamentals. If you have a few minutes, please take the time to watch the video and learn how the markets really work.
Since Barack Obama was named President elect, we can see how the markets have reacted at least in the short-term. Maybe not a reflection of Obama's potential as a president, maybe a reality check for problems in the economy. Not even the record cut in interest rates by the UK could help the markets today.
Enjoy the video and please let us know if you've found it to be helpful and useful in your own trading plan. You can reach us online or you can call us directly at 1-800-538-7424 and someone from a support staff will be able to answer any questions you might have.
Every success in life and in trading,
Adam Hewison
President, INO.com
Co-creator, MarketClub
oil lower ?
Disaster for Venezuela ?
I've been told their are no dumb questions. This may be the exception. I'm very new at this and would like to learn how to keep my shirt. When you say you took a small long position I'm assuming you mean low cash input over a longer period of time. How would you determine the low value. The long I would guess to be at least 6 months. Comments?
With hindsight, rather than making the numerous trades based on the daily chart, shorting the weekly downtrend from $133 to $62 would have given a profit of $71. Was that too risky to consider? In other words, leaving the short in place all the way down the weekly trend line.
I too, after reading your blogs, emails, watching recommended videos, etc. placed UAUA on my watch list. I am a beginner in the ultimate sense and appreciate all the free info from this site.
I have read a lot of your comments and have watched several of your videos. I suppose you are a trader like I am. So I took a small long position in UAUA. Let's see what happens.