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