Just wanted to follow on up on this one. There was an article yesterday highlighting that oil producers are changing focus from VLCC (2m barrel capacity) class tankers to long range tankers (800k barrel capacity). My assumption that all those VLCC vessels are already full by now.

I looked at charts of TNK and DHT. DHT has 27 VLCCs and TNK has about 60 tankers (50% VLCCs). The charts for both look like it’s the end of the run at resistance. I wonder if @rsotc is tracking any of this.

Source: https://www.ft.com/content/32563eae-fae5-4f24-b3ad-459f6ebca495

Oh man I would have to go through all of the posts to find your comments. I think I saw your charts and I didn’t understand a thing in them. I may be wrong, again I’d have to revisit them although I am already siding with Randy and balls deep in these trades, so it’s a bit too late to pull out even if you have a genius idea of what market is gonna do.

Bro don’t waste your time. People are entitled to see what they want to see. I find it funny the reaction to opposing views here.

Great video, thank you for posting!

We won’t know if the bears are right or wrong for several more months, so get off your high horse.

You’re assuming you and Randy are at odds. Randy is a swing trader, and his targets aren’t out of the realm of possibility. Randy never said we wouldn’t reach these levels before the market turns (in fact, he said on multiple occasions that it was possible). You are simply trading on a different time frame than most of the people on this forum. There’s a big different between a trade that isn’t working and a trade that didn’t work.

I totally agree. Everyone is his or her own master and responsible for personal trades.
As such, everyone can ignore my demonstrations of Randy’s erroneous analysis. If you chose to ignore the facts that I present is entirely your right.
If, on the other hand, you are complaining about an opinion going against Randy’s, well that’s doing exactly what you have accused others of doing.

I am sorry, but all I am doing is present facts. And unlike others, when I am wrong I am not afraid to admit that I am wrong.

@bunchpr

OK, one more reply and I will let you be – and no, I am not trolling you, I am just trying to show you a different perspective, if this will ever help you.
1. You posted a screenshot with bad economic news – something that I never questioned. What I have questioned is the magnitude and the long term impact of these events. I have written several posts arguing that the 26 million unemployed are not de facto unemployed.
2. Waaaay more important: I have also written multiple posts on the fact that the stock market is not the image of the economy. Basic economics (I have a BS in Economics, an MBA and a second masters in management, 10 years of corporate banking and 6 years of management consulting, if that helps) … so basic economics teach that the price (the stock market) is the outcome of the law of supply and demand. When demand increases, prices increase and now the Fed is providing infinite demand both through QE and near zero interest rates.

Best of luck

Well, the FED should be satisfied with itself. Good job in propping up the markets. So maybe they will not pump so hard in the meeting this week. They are at a huge risk of creating another bubble that could pop even harder.

I agree, the market is going up or down. ;-)

Actually, Becky, we are not – and no, I am not G-Trader’s advocate. I don’t know him/her.
I have had multiple posts both on fundamentals and trades. I will not go back to more than a month ago when I was warning Randy that this is the Fed’s market, but here are the most recent examples:
– on Friday (4/24) at 10am EST I call SPY at 287.5, followed by 294.0
https://rightsideofthechart.com/stock-market-intc-intel-analysis-4-23-20/
– on Sunday (4/26) at 10pm EST I called again SPY at 294.0
https://rightsideofthechart.com/market-analysis-trade-ideas-4-24-20/
– 18 hours ago I briefly explained why (in my opinion) the market will not go down and why I considered Randy to be extremely biased
https://rightsideofthechart.com/charts-im-watching-today-50/

So you see, I have posted charts, target prices based on TA (mine were hit … just saying) and fundamental analysis.
At the same time G-Trader has posted numerous price targets on NVDA and AMZN.

I am sorry, but just because 95% of this forum chose to ignore us does not make us trolls.

But no worries, I have already closed my account so you will get rid of me once it expires. In the meantime, if I can help anyone stop losing money, I will gladly do that. I honestly don’t give a rat’s bottom on how much money Randy loses, I assume he has plenty. He’s definitely not a bad trader for the early 2000s and I have learned a lot from him in terms of TA – which is why I signed up for this service in the first place. But Randy lives in the past, 10 years in the past and his poor trades make beginners lose money. That’s the only problem.

My thoughts, also. Thanks, bunchpr, for putting it so eloquently!

Randy has a methodology that makes sense to me. He looks for trendlines and support levels in the market and matches them up with momentum indicators. When there is a reaction from the market levels that coincides with the momentum indicators, he puts on a trade. Overall he has a great track record of spotting turns. If his style or advice doesn’t work for you then find something that does.

In my view, if we are putting our own capital at risk, we each need to decide if we like his methodology and if we think it produces results we’re happy with. And then beyond that, we each need to decide if we like any particular trade he recommends. I personally don’t take every trade because not all of them match my style or my belief about the market. I view the information provided by Randy as one input into my overall decisions about investments, combined with my own analysis and research.

If I manage position size, diversity my holdings and strategies, get input from smart people, and take responsibility for my own decisions then things will work out. Like everyone else, I’m not happy with the recent bearish trades, but that’s the game we’re all in.

I’m also at that point – was ready to close out my SPY shorts yesterday but the goal post was moved again (confirmation bias). That being said, I still am bearish in general, but I am getting to the ‘frustration’ and ‘call it quits’ phase right now. The top is either close, or it’s just not going to happen and I’ll have to take the L.

… please. I don’t understand why you and G-trader have to troll Randy in every thread, given that both of you have zero ideas to oppose his vision. This is childish at best.

(FOMO+Don’t fight Fed)xWall of worry=Bearish pain

I feel the same. And it seems beyond the point of a Bear mkt rally. We have, and continue to climb, the wall of worry built by bears such as ourselves. To think I even added to the pain with spxs just yesterday. No good morning for me.

When more bears capitulate and join you. Maybe when this whole group including Randy have thrown the towel then maybe it’ll be time.

@bransth. Randy also did say this is his opinion and to do your own research. Although I get it why folks sign up for a service and you expect them to do most of the leg work. Like you a lot of folks make the mistake of thinking they know how markets work and they don’t. Plenty of good trades left. Good luck.