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JI
jimkane
Rep: 3,058
Posts: 33,089
This 82.75 could be it for now. But, how can they not close the year at new all-time highs. I'd think, just as a 'guess', the odds of new all-time highs on the last trading day of this year are approximately 99.9999%. Approximately.
JI
jimkane
Rep: 3,058
Posts: 33,089
My only saving grace to being so off target on the new all-time highs read was that at least I saw it hit the area below my best spot and the way it acted, I did think it was most likely done (at least for that move), and that was, indeed, where it crapped out from. Based on the way it acted into the open and shortly after, there was no way I could have seen trying to pick it up long at all, and it was spectacular as far as setups for the short-side, in my opinion. Newer students will recognize something in the price action from the rollover area until now, as they fry it one more time here. Amazing.
Originally posted by jimkane
This 82.75 could be it for now. But, how can they not close the year at new all-time highs. I'd think, just as a 'guess', the odds of new all-time highs on the last trading day of this year are approximately 99.9999%. Approximately.
JI
jimkane
Rep: 3,058
Posts: 33,089
Crude is about to close (well, it is already 'closed' but I mean the aftermarket trading) for the year below the level Armstrong posted that says it will have a sharp acceleration down in '15, leading to that low 30's target he mentioned. I've said that all along (test that collapse low), but I was really starting to lean towards the selling is mostly over, and it will rotate in the 50's for awhile. Maybe both things happen. I'd prefer quick and sharp with no recovery rally for a long time, but I think the odds of that are very low. Then again, I thought the odds of selling hard into the last day of the year were pretty much zero, and look at it go!
