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Sound Money Commodities are Warming Up

Commodities

Yes we have a pop up in gold! But look around, other sound money commodity are trying to find a bottom ...

Below is the Crude oil Sweet Light chart. Supply is being bet with demand, and you see this with the higher volume on the short thrust. When price moves less on higher volume this is Wyckoff law of 'Effort vs Results' at play, so higher volume with poor price movement is less results for the effort by the shorts hence the longs are stepping up.

However this does NOT mean lower prices are over for crude, it does mean if we get a sell off on lower volume this would be the shorts last roll of the dice. A low volume sell off would show the market the bears have run out of juice thus allowing the bulls to accumulate with some safety. A Wyckoff trader would like to see a wider trading range proving accumulation is present. Watch and waiting!

Crude is a large part of the CRB index, crude turns or slows, so will the CRB index.

Crude Oil Monthly Chart

Some interesting comments in this video...about China!

Just a reminder that Wyckoff logic and readtheticker.com are not one hit wonders, this video was spot on!

Investing Quote...

"One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. They have cost stock traders, taken together, enough millions of dollars to build a concrete highway across the continent." ~ Jesse Livermore

"One must search through a maze of complex and contradictory details to get to the significant facts ... Then he must be able to operate coldly, clearly, and skilfully on the basis of those facts." The challenge for the successful speculator is "how to disentangle the cold hard facts from the rather warm feelings of the people dealing with the facts." Moreover, "if you get all the facts, your judgment can be right; if you don't get all the facts, it can't be right." ~ Bernard Baruch

"Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market." ~ Warren Buffet

"Because of the extreme challenge, one must commit full attention to it." Market speculation is "no different than trying to be a successful doctor or lawyer ... you simply must devote yourself full-time to the study of your craft." ~ Bernard Baruch

"How many millionaires do you know who have become wealthy by investing in savings accounts?" ~ Robert G Allen

 

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