The force is strong with this one. Quarterly just out. Looks like a good quarter.

Very fake news CNN is reporting the Trump will announce he won't withdraw from the Iran deal at 2pm today, in contrast to the prevailing wisdom and what European diplomats have been saying. Market ripped half a percent of lows in 7 minutes on this news. Oil not happy either.

No idea what he's going to announce, but worth watching.

And it looks like it turned to be yet more (very) fake news from CNN, the king of misinformation.

Been an interesting day for oil trading on these headlines. Do you guys capture any of these moves? I don't know anything about trading oil. Any oil news traders here with an actual edge as opposed to techniclowns?

Yeah it's been an interesting day, CNN, NYT, then French denial of the NYT story. Long oil is such a crowded trade, don't think people need much of an excuse to exit.

Oil is all technicclowns. As a techniclown these are exactly the kinds of things you want to happen. The news will tear you apart. The markets reaction to the news is what you need to understand. This is why technicals work so well in energies and gives traders such a huge edge if they understand how these markets work. News hits and the market moves immediately and you have to react to those markets actions. Following the news gives you nothing. Reacting to it gives you everything.

Today was very very good

Alright, so you're a proven idiot then. Thanks for confirming beyond all doubt.

Very obviously, the (thought to be reliable) news that Trump wasn't exiting the deal was excellent for downside given how much it had run up and the fact that it was widely held that Trump would leave the deal. You didn't even need to look at the market's reaction. Similarly, the NYT news saying the opposite was good to cover. That you think technicals are needed here, let alone ESSENTIAL and impossible to make money without on this news, is comical and ridiculous. Why be so completely ridiculous and rigid in your thinking that you discredit anything you say?

Listen up trollboy. What I am saying is you don't have to try and analyze the news. The market moves way too fast for that anyway. What you need to understand is how the market is reacting to whatever the news was. That is what technical analysis is anyway. Making sense of what the market is doing through its price action. If you are busy trying to analyze and say "hey this news is BS!" you then miss the huge ride you get jumping on not to mention getting buried by your "opinion".

Understanding HOW markets move is much more important than trying to figure out WHY markets move. The HOW guy is the technician while the WHY guy is the fundamentalist. The WHY guy will always be a step or two late and more often than not will out think himself. With markets like energies today you have to be quick and understand what the market is doing and why doesn't really matter.

You literally have a graph above that shows that to be a false statement. Most graphs of reactions to news are the same. Are you totally ****ing stupid? This is like talking with a rigid thinking geriatric whose mind is gone. Again, look at the graph above, look at the bolded statement of yours. Evidence vs wrong opinion. There are many many minutes after the news hit to get the majority of the move. In fact you can enter well before technicals if trading on news.
Maybe it takes you hours to react to news, but it doesn't take me that long. You can decide in seconds.
Another idiotic statement.
Yet another idiotic statement. I've gotten in on news well before the technicalists. In fact that only way to parse a tick down that quickly gets bought up vs a real event is often by looking at what news hit.

Look man, I get it. You're a weak tight fish who's built up a grinding playbook that gives you security and certainty and moderate return and doesn't trust his own judgment. That's ok man, it takes all types. But just because you can't make a quick decision on obvious news like the above doesn't mean others can't. Profitable TAGs are as incomprehensible to weak tight fish as other ways of trading seem to be to you.

$JNJ struggling. Overall DOW weakness? Any Trump - pharma news is getting delayed (which was supposed to be a bad thing for the stock).

This is the funniest part. You didn't even catch the initial move. TA caught the huge rundown which was the trade of the day. Then you brag about catching the reversal which TA caught 3 minutes before your precious news story came out.

TA is a step ahead! It catches the break and beginning of the reversal before the news story even hit the wires.

Everyone has their own approach. I happen to like mine but don't disparage anyone who does it another way or with different methods. However anyone who doesn't subscribe to the bible of The Toothless One must be a ridiculous weak tight moron who will never succeed. It means they must be insulted at every turn.

You obviously have some intelligence and I am trying to figure out what makes you the biggest douchebag troll ever to hit the internet? It is unfortunate that this is the only forum you can post in due to your immature behavior. It makes me wonder why they let you even stay here?

such a pointless argument.

historically oil is the least signal-strong momentum chasing market there is. just look at literally any dennis gartman call in oil this decade. he lost basically every one. oil doesn't do what you want it to do on longer time frames, unless there is a dramatic shift (like thanksgiving OPEC a few years ago, or when OPEC tapped when oil was at $25 six months later, or any war in middle east).

i'm pretty well convinced that the best way to be successful when it comes to fundamentally trading oil is to actually deal in the physical product. people trading on timeframes of days/weeks and trying to find edge in supply/demand/macros in the futures are getting chopped almost always. it is an incredibly difficult market to gameplan.

short term, there is absolutely news edge. as to what edge is more refined or better, or what role TA plays in it, i find that conversation nauseating. nobody cares about your empty arguments of TA is good vs. TA is bad. one of you is more right than the other, the true answer is shaded in grey, but both of you are wasting everyone's time.

I couldn't agree more. Arguing with the toothless one is a fools errand. Then again he argues with me rather than the other way around. I am quite sure his methods work very well for him. That of course does not mean they are the only methods that can work. But of course this is the internet and if you oppose the king of the trolls he will come at you relentlessly and never stop.

I agree trying to figure oil on longer terms is hard if not impossible because of so many moving parts. But in the very short term there are methods that can capture the constant rebalancing of the 80million + barrels that are used per day. I am hoping the current volatility remains. Volatile energy markets are one of the easiest and most profitable trading markets ever. Low volatility not so much (see natural gas!)

XXII
Great RSI. Huge naked short squeeze. Breaking out.

T going down tomorrow on Michael Cohen news. Looking to buy Sept 21 $31 calls @ $1.70 though.

AAXN crushed earnings - running in AH up 10%

Why such theoretical arguments? Baseball, just start a thread with trades posted in real time.

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No real point to that either. Unless my character-o-meter is glitching, baseball isn't here for validation. I can't think of any reason why anyone would post their trades in real time unless they needed validation or were hoping to start the next Bernard L. Madoff Investment Securities LLC and yet were dumb enough to try to attract attention on a poker forum.

I'd be interested in a practical discussion of what baseball does if he felt like it. Maybe some ideas on why he believes what he has made money on happens to work. Some random buzzwords like trend and countertrend. You know, **** like that.

*I'm not the most imaginative person in the world, so others may think of some other reason.

Like I said many times before I trade a lot of channel breakout types of trades when markets are volatile. Often using unconventional chart types like tick charts or range charts. This relies on support and resistance levels.

Take yesterdays energy trades for instance. They broke out of their channel at 8:58 am cst and dropped like a rock. The channel breakout caught this move not knowing what news caused it. It sold off not knowing what reason was causing this epic 200 tick dump. This move lasted 12 minutes when it bottomed and abruptly turned back up at 9:10 where the channel said cover the short and get long. It then rallied hard for about 5 minutes. When at which time it started to chop in a volatile fashion that afforded the channels to make several smaller but profitable scalps. Waiting for the "news" which came out at 9:13 cst means you missed all of the good stuff. Reacting to what the market is doing before it has been revealed why it is doing it gives an enormous edge and lets you catch the really epic moves. Yesterday when Trump started talking at the end of the day was the simplest trade ever. Energies broke out up immediately and just rallied for 5 minutes straight before going in volatile chop.

Most of my trades are very short term in nature trying to catch the interday swings and waves. This works in very volatile and fast moving markets. It works exceptionally well around market moving news events. Analyzing the news isn't necessary since the market will begin its reactions before the news is known or absorbed by the market. Waiting for the news means you will miss the real meat of any good move.

Anyway this is the way I often trade. I have lots of different methods I use for different market environments. You have to couple the right strategy and approach for the market you are in. This works for me. I am sure that vastly different approaches work for others. I don't consider those others to be ridiculous morons who have no clue. TA works for me very well for short term swingy markets but it may not for others. I am not trying to convince anyone that my way is the only way. I trade futures which are highly leveraged types of trading vehicles that can and will move extremely quickly when they want to. Even small moves can be extremely profitable.

Which is why he's the most ardent defender of TA.

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Or unprofitable

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Long AUVS with fun bucks, stopped out GSS still have NG added UCO other day.

https://mobile.nytimes.com/2018/05/0...mtyp=cur&smid=

All new homes in California and apparently apartments will have to have solar panels starting in 2020 it looks like. This could be real big for small companies that get contracts. I'm still long TAN and RUN and looking. What are the best plays on this news?

Not even necessarily that good as the customers are now going to be the big home builders rather than price insensitive rich individuals

No. The reason why he is the most ardent defender is because he is the only one silly enough to waste his time defending it at all.