RE:RE:RE:RE:RE:RE:Technical 6-month double bottom in crude1troffer wrote: Ocalaman wrote: How do technical's take into account the constant change of supply with capital restrictions, efficienies etc Add to that the amount of production that is behind pipe right now that can be put on stream very quickly as a result of oilco's being cash starved ?
as technicals, from my little knowledge, work as a forward predicer based on history with changing metrics ,re above, how are they accurate.
The fact is that most of the posters are married to their bte stock so they will grasp at anything to justify the fact that they have become elevator riders. Technicals are just one more straw to grasp at. What will be there excuse on Monday if the price of oil is down and botox drops further. What they seem to forget is that bte has retreated from its high on june 8th of 9.04 . Most , like Bago and slinger were calling for 10 bucks, but then reality set in and oil went down, and instead of selling , most kept their stock and sat on their hands getting stinky finger while some of us sold and moved in to other stocks or day traded this and others. The fact is , I posted on numerous occasions my trades and was told I made them up. HR2 posts his trade and is told the same thing. I also posted about selling in to the run or selling after the panic and then rebuying lower, but I was ridiculed for that as the stinky finger gang was jealous. So , I agree, Ocalaman, hard to use technical analysis when oil stocks go up and down every day based on the price of oil which is affected each tuesday and Wednesday by the iea and api numbers or a natural disaster or uprising in the middle east. But , stinky finger gang, never let the facts get in the way of your decision to buy and sell.
u
We have never had this much drilled, unfracked inventory before mainly because fracking is relatively new, with its rapid ability to produce with just injecting and producing seems the history part of technical analysis be ones more nebulous. There may be a logical answer thus my question.Being a fundemental type investor I am curious