Beware! Falling Prices Ahead!

Just when you thought crude oil couldn't be sold any lower. I am amazed, yet excited to see this blowout in the price of oil. This seems to be the only reason the market is above water this morning. Do you think the prices continue to fall? The signals aren't there yet it is still hard to resist temptation. $54.04 per barrel for February delivery and dropping. A benign winter is defintely taking precedent over the threat of global supply getting shut down. Burn baby burn!

As I have been writing, the market is now under water. Go figure. What do we see moving today?

BEN finally broke out. This was one from last weeks watchlist. Along with AZO, LAZ, AH, and FMCN. These are new additions to this weeks list.

Did you think I would forget price patterns?

(Potential) Triple Tops- ASF, IEX, and PRAA
(Potential) Double Top- JCP
Triangles- TSAI (Descending Triangle), CGNX (Symmetrical Triangle)

Anyone have something they want to talk about? I am fighting off the urge to talk about synthetic options (which isn't very hard to do actually... you should try it).

I have been watching FLML. Broke out about 5 days ago and is doing pretty good so far today...

Jeff,

Don't forget to add the SPX, the NDX, the DJX and the RUT to your list of topping patterns developing!

Brett-
I won't tolerate your pessimistic tone here. There is a time and a place for it, but not here in this Bull Market!!!

JK

the only prices that are going up in my portfolio are my puts....lol Looking over all my trades I’m write about 19% of the time I should experiment for a month and trade everything opposite to what I think... man I’m taking a beating this week.

Danny DR

"right" not "write" wow its been a long day!

Danny DR

The "benign" winter is about to get ugly for much of the country. Like you said very hard to resist the temptation.

Mark Fisk (Tplus1)

Post a Comment
...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT... ...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...

About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
My profile

Prescriptions Here!

Other stuff

Blogarama - 
The Blog Directory
Directory of 
Finance/Business Blogs Finance 
blogs Top Blogs Finance Blogs - BlogCatalog Blog Directory