Tuesday, May 9, 2017

Oil: Bear All Year Turned Bull

Recap Of Our Oil Calls
We've been bearish this year on oil mainly for the reason that great news led to bad action. "Action" is the trading method of comparing what should happen to what actually happens.
The good news in oil should have had it moving up. It didn't. That meant to us oil had downside.
Added Layer Of Bullish Conviction
Besides looking at fundamentals and technicals, we have a proprietary method we launched for subscribers in mid-January called the "daily" that catches moves in oil. Since launch our oil trading calls are up 11.6%. That it's turned bullish along with the fundamentals and technicals gives us an added layer of conviction.
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Disclaimer:
Securities reported by Elazar Advisors, LLC are guided by our daily, weekly and monthly methodologies. We have a daily overlay which changes more frequently which is reported to our premium members and could differ from the above report.
Portions of this report may have been issued in advance to subscribers or clients. All investments have many risks and can lose principal in the short and long term. This article is for information purposes only. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC and their related parties harmless. Any trading strategy can lose money and any investor should understand the risks.