RE:RE:Saudi Arabia's Oil Storage Falling As Exports Exceed Product
Good post except the continual "trader versus trader" attacks here. You guys don't seem to understand that many of us here are not short term traders.
And although I'm not a daytrader, I have a regular job like most Canadians, I do understand Technical Analysis enough engage in a discussion with you on this to learn more.
1. Longer term bollinger bands. If you look at the daily period TA chart on BTE.TO, you get a condition over oversold in early March when the stock quickly ran up to over $5. You would have sold.
2. There was no condition again to have indicated to rebuy but on mid April you would have sold again at $5.50 and again at the end of April at $6 (oversold and breaching the BB).
3. Then in early-mid June, not having bought back in again (since there were no oversold or breach of downside bollinger bands), you would have sold again at just over $7 when your conditions happen again.
Let me ask you this? Were you a shareholder who has now sold all his position or are you a short seller selling into a bull run?
And if you pull up the longer period charts because "they are more accurate" as you state, show us exactly when you would have bought after you sold all these shares prematurely.
On the topic of bollinger bands, again on the daily period chart we are seeing them contracting again, and with the fundamentals all shaping up for a bulling oil price run, my feelings if anyone not a shareholder will regret it again.
What are your feelings on this going forward for longer term investors?