Wow! Thanks for sharing this info on oil inventories!
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You are welcome, when I saw the report in the news it made me wonder if we will get a sell on UCO XLE. Tomorrow the OPEC report comes out on what they are producing and we will see if they have slowed down yet. Speculation is that the Russians have not decreased what they are pumping, but we will see tomorrow…doc
Doc, Stock charts does show sell (price label on yesterday) this morning on UCO. No price label still on XLE, but I got out anyway with a loss of 1.1% because I think it will continue to go down through the day and I can’t watch it actively today.
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Hi @buynholdisdead & @LisaM,
It appears they can go both ways. I have seen them appear at the beginning of the day when they weren’t present the day before, like this:
BUT
They can also disappear the same day, like this:
The price went lower than the previous range, so it erased today’s label.
I also noted it dipping into the bottom RSI range, so I judged it to be a head-fake.
I guess I was right for today. I will watch as it continues for the next few days.
Does that help you?
Gene
All holdings and some statistics on my Fool profile page
https://discussion.fool.com/u/gdett2/activity (Click Expand)
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Ahh yes that does Gene. Thank you
Andy
Hi @buynholdisdead,
Here is another one. This is a long-term position for me that I occasionally buy/sell a little as the prices wobble around. I saw the label and wrote it on my list to watch tomorrow. When I looked the next day, it was down. Ok, tomorrow I will maybe sell some.
Oops! It opened up quite a bit and hasn’t made a label since.
Does that help you?
Gene
All holdings and some statistics on my Fool profile page
https://discussion.fool.com/u/gdett2/activity (Click Expand)
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Hi Gene, We were just talking about stocks that are in an uptrend like that. I don’t think I would sell until it crossed a 30 MA and then watch it very closely to resume the uptrend. But thanks for showing me that. It is helpful.
Andy
Edit: This is not advice Gene just conversation but I do like that run the stock is on and it could keep going for awhile.
Hi Andy,
If I remember right, you used to own affirm, right? Do you still own it? And has your long term view on that changed? I still own 100 shares of these at a cost basis of 125 or so…And I was trying to see if this had any chance to survive or if it was just another total story stock.
Thanks,
Charlie
I sold out of it Charlie but I do still follow it. I just went over the Conference call today. They plan on being adjusted operating income positive next quarter but I lost confidence in them when Apple and everyone else went into BNPL. I watch them though to see if they will make it through and Max is very smart but it is a slow and methodical progress.
Andy
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Thanks Andy…Lesson learnt again. I always had the feeling, as I kept wondering what prevented any company from having their own bnpl if that particular component was any real meaty source of revenue/profit…but still bought it …Worst was not to sell out of it (Like many other stocks) when they dramatically started dropping…I think that was my Achilles heel…I can sell if it is even or even slight loss, but if there is a sudden loss of 10 or 20 percent, the mind just goes blank thinking this is an overreaction, and common sense should prevail…well, by that time, that 20% loss already has become a 85 percent loss….
Thanks for sharing your views. That is certainly helpful.
Charlie
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Your welcome Charlie but it could still work out. They have a new Debit + card that they are getting into peoples hands which makes them very sticky to afrm. What the card does is allow you to shop with any company and use it to pay and set up your own BNPL payments. But I assume that is what Apple will do with their phone, but it is unique.
Andy
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Lisa, good move on your part getting out of XLE. On another note I finished reading the OPEC monthly report and it is pretty neutral for the near term. All the predictions continue with a significant rise in crude pricing for the second half of the year…doc
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Thanks, I will be watching for an upturn near the second half!
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Andy asks:
re: SPY
Q: Can anyone tell me on the Stockcharts when those price labels post?
The labels usually post ONE bar after the price has been posted.
If a 5 minute chart, five minutes after what appears to be a new high, the price is posted at that second the next bar appears when it falls below the new high.
If one day chart, the next day after the bell rings what appears to be a new high, the price is posted at that second the next bar appears.
The same for the inverse from the bottom heading north.
Most day trades like to trade SPY, IWM and AAPL.
I was watching SPY live all day to trade as an experiment on a 5-minute chart. I actually saw the labels pop as noted above. I closed out at 3:45 pm when I saw the label. Five minutes later a head fake occurred and still headed north with a new label at 3:55 pm but I believe or recall the market is still open for 15 more minutes after the bell.
Quill -
There are thousands of traders who just trade SPY and IWM only day in and day out for a living or extra pocket change.
There are rumors traders will be able to trade 24 hours around the clock like the Crypto coins, buy only at limit trade orders.
I trade $EHTUSD using a daily and a 4 hour chart. It is like a little ATM machine that could for pocket change. All you need to do is place a dollar amount (5K in my case) and let it rip at each trade.
Barchart has a few crypto coins with a ^ in front of the ticker symbol, but a strange thing happens the last trade is 3pm EST. ( 1D 60Min) Strange. !!
Slide the chart until 2 arcs appear and let it go by it’s self. (don’t touch)
every 30 minutes
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Thanks Quill,
I am not seeing the change on ^ethusd but it’s probably because it is to late. Will check again on Monday.
Andy
Ok I just saw it Quill interesting just popped in. I wonder if that is because bitcoin trades over the weekend?
Andy