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22:58
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Originally posted by eshmun
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Agree. Oil has probably bottomed. Although I follow the Dalian iron ore futures closely and they have shown a very pronounced recovery, then greater decline pattern on the way down. You'd be a brave person to call the bottom on iron ore at the moment (stimulus won't ever fix the underlying dynamics of their economy). Iron ore is not oil and the geopolitical price pull/push factors are different for oil (except to say both commodities are victims of mal-investments in overcapacity due to cheap debt conditions in the world). So far there is not much evidence of the same recovery, then greater decline pattern in the WTI oil futures that you see in the iron ore futures, although it is worth bearing in mind that while oil production remains at record levels the risk of further slides in the oil price are possible. The recovery in the DLS share price and other energy stocks seems to indicate that this risk isn't imminent.
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and just one other thing (bit of topic sorry). If you follow those rules you'll soon know if your a good trader or not, because if you are, you'll be left with a profit and cash in your trading account and if you aren't, you'll be left with a portfolio of shares that aren't as good as you thought they were, but are probably better than they would have been if you didn't follow those rules in the first place.
