Final add to my short at $53.05, SA's prince could fart and oil would pop. This is a joke. (excuse my language, but it suits the theatrical nature of this situation)
The Call to Put ratio has been hovering around all-time highs which leads me to speculate that as buying decreases (all longs are already bought in) there is no option but to book profits which will cause a chain reaction and with some help from sleeping bears to push oil to my initial target and slightly below. Thus, I will sell 50% of my position at 48.75 to avoid any troubles with the margin man and then then the rest at HCL.
*Note: I suspect the trigger has been pulled for the chain reaction due to the volume spike
Hi! Before your short cycle will begin, price will be at 54.50-57.50 mark at 26 Dec and 02 Jan. (Wave 5)
BigCharts
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@b.zholymbet, Hello. I though so as well mid-trade, but i got lots of cash in the sides to average down. Furthermore, there is a high chance that we open lower and continue after Christmas. That's because this wave was not healthy
1. very low volume
2. no consolidation
(3. no profit taking)
4. santa rally, which usually turns around after Christmas (check past statistics)