Warning, A true fact.
A gentleman came in to day to fix our copier machine here in the office. He took a look around the office and asked if we were trading anything. We said yes, in fact we were traders and risk managers.
He responded that he just bought some energy stocks, because he heard they were going to go up.
If that’s not a major contrarian signal, I don’t know what is.
A case in point, last 2007/2008 a woman called in out of the blue, and asked about buying “corn stocks”. The high was that week.
I am going to have a sell stop ladder in if crude breaks below 103.00. And I will have more sell stops to enter shorts if and when we settle below 100.00 a barrel.
That is All..
CER
