Is now the hour to nibble at the falling crude oil price?
Previous Post:Is it time to get long crude oil?
To answer this question, consider another stock massive sell off. The gold stock Newmont Mining (NYSE:NEM). In the first chart we have seen some 'Change of Behavior', which has yet to be seen in Crude Oil, so unless there is a 'V' bottom in crude, there are many month to go before the retail investor should considers investing into Crude Oil.
In the chart below, no sign what so ever that shorts are covering with any strength, or demand is punching in at the lows. Sit back an wait! Fundamental article here may interest you.
"TIME is the most important factor in determining market movements and by studying the past records of the averages or individual stocks you will be able to prove for yourself that history does repeat and that by knowing the past you can tell the future. . There is a definite relation between TIME and PRICE. . Now, by a study of the TIME PERIODS and TIME CYCLES you will learn why tops and bottoms are found at certain times and why Resistance Levels are so strong at certain times and bottoms and tops hold around them. . The most money is made when fast moves and extreme fluctuations occur at the end of major cycles." ~ William D Gann
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong." ~ Bernard Baruch
"Money can't buy you happiness but it does bring you a more pleasant form of misery." ~ Spike Milligan
"In the short run, the market is a voting machine, but in the long run it is a weighing machine." ~ Benjamin Graham
"Bull markets are born on pessimism, grow on scepticism, mature on optimism and die of euphoria." ~ John Templeton