Crude Oil, The Seeds for a New Bull Market

 

 

Trader Scott’s Market Blog

October 14, 2016

 

We can usually count on academics to be completely wrong about markets. And while virtually every academic has a higher IQ than I do (granted, that’s not saying much), when it comes to markets smart is often dumb. The great Tom Baldwin said this about markets: “You don’t need any education at all to do it. The smarter you are the dumber you are.” So when I read articles like this one, about an academic “calling”/predicting that oil prices may (a basically useless word when used about markets) remain low for 20 years, it just continues to make me more convinced crude is in a major bottoming formation – accumulation/weak hands to strong hands. I was quite bearish on crude oil for a few years, as explained here. And although I do expect to see this bottoming process in crude to be quite extended, my belief is still that commodities put in a  long term bottom in the Spring. But, for crude oil in particular, that is in the long term time frame. But I am quite concerned about crude currently, and I do expect a retest (with a higher low) of the February 11 major low of $26 – with a time frame similar to that low, but into next year. But articles such as the previously discussed one, are sowing the seeds for a very bullish 2017 – 2020, we just need to get thru a (likely volatile) retest of the major low.

 

 

 

 

 

About

img_0074bwcrsmTrader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day.Scott returned to markets over fifteen years ago where he continues as an independent trader.

 



Missing Podcast?

If you see an error with an archived podcast or know that an episode of our show is missing, please press the button below to send us a message so we can look into it.

Enter your name and email if you want to be notified when this podcast is fixed:

'Trader Scott’s Market Blog – Crude Oil, The Seeds for a New Bull Market – October 14, 2016' has no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.

©Copyright One Radio Network 2014 • All rights reserved. Site built by RedLotus AustinThe information on this website and talk shows is solely for informational and entertainment purposes. IT IS NOT INTENDED TO PROVIDE MEDICAL ADVICE. Neither the Editors, producers of One Radio Network, Patrick Timpone, their guests or web masters take responsibility for any possible consequences from any treatment, procedure, exercise, dietary modification, action or application of medication which results from reading or following the information contained on this website in written or audio form, live or podcasts. The publication of this information does not constitute the practice of medicine, and this information does not replace the advice of your physician or other health care provider. Before undertaking any course of treatment, the reader must seek the advice of their physician or other health care provider and take total responsibility for his or her actions at all times. Patrick Joseph of the family of Timpone, a man...All rights reserved, without recourse.