The TA Trade had a Nice RunNow it looks like fundamentals are coming back into play. OPEC is a herd of cats all going in different directions and the market is realizing this. A 10 Million BOE build won't result in a rally this time like what happened 2 weeks ago. If we have a typical March and April, in terms of crude builds, and you believe the governments storage numbers then it will likely become an issue on hte front term contract price. The market so far has completely ignored the "record storage" red flag the EIA mentions in their weekly report. With 2-8 Million petroleum builds typical this time of year that spare storage capactiy will fill quickly. The contango will deepen like what happened at the first of the year where it had flattened
The short term charts, post the big runnup suggested momuntum to the upside was stalled. The last 5 BTE there is negative divergence in the RSI versus the share price which has a slight up trend channal. Hinting at a future sp drop. Larry Berman a real TA said yesterday on Bermans call that he expects a 10-15% correction in the market in the near term and went to cash and into defensive names.
So despite what Mark aka protrading/Fullreversal/cyclewatch/backgoldbull/etc etc. says all that matters ares the charfts (true during a TA,short covering, seasonal rally), which he privides none of his own analysis just a cut and paste from barcharts, and that debt isn't due for a coule years, and that insiders have bought BTE, and that BTE used to be $20 that's not all that matters. He's going to have to learn fundamentals. Mindless pumping isn't going to win at the end of the day.
PS Mark had the same day/weekend/and night shifts when he was capitulationbuy (during the day and weekend) and blackgoldbull (during the days) as he does now as Protrading and Fullreversal respectively. Both those alias were banned and erased and hopefully SH will do the same with Protrading and Fullreversal plus some new ones which have just popped up. He complains about others having multiple accounts but none of the people he accused had theirs deleted. What does that tell you?
And by the way when some complained the BTE quality BB has been compromised they were refering to Mark and his multiple accounts yet he was not perceptive enough to notice this.
I asked Protading the difference between ignorance and apathy and he said
"he didn't know and didn't care." lol