Oil

[farming101]

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[Richard5]

Anyone here trade Ninepoint energy fund?

Why not buy the 5-7 company stocks directly in your own portfolio?

[AlbertaFarmer5]

[ATTACH]9297[/ATTACH].

That looks like a picture perfect textbook bounce off the uptrend line. Or was the line drawn after the fact?

[shtferbrains]

Why not buy the 5-7 company stocks directly in your own portfolio?

Novice investor.

Have some in funds with "financial advisor" but don't have an active account.

Probably look to Nuttall for advice at start so why not just buy his fund? Looks better than what I have now.

[farming101]

Ha! Just drew it today
Fully expect price will take another run at it

[AlbertaFarmer5]

Ha! Just drew it today
Fully expect price will take another run at it

So is that the same line you would have drawn a week ago? Or did you have a choice of many different slopes on many different time scales and that one just happened to be the one that worked out?

[farming101]

In some uptrends the support levels are quite distinct, so yes that is a good line.
Fine tuning that line shows that yesterday's low on the continuous actually probed below it. That's why I say it's likely to take another run at it.

Trying to draw a line on the peaks of an uptrend is usually disappointing.

As soon as an indicator is drawn you need to study and try and find what is going to ruin it

[wheatking16]

In some uptrends the support levels are quite distinct, so yes that is a good line.
Fine tuning that line shows that yesterday's low on the continuous actually probed below it. That's why I say it's likely to take another run at it.

Trying to draw a line on the peaks of an uptrend is usually disappointing.

As soon as an indicator is drawn you need to study and try and find what is going to ruin it

Good points

It involves contact adjustment with new information.

Do you draw from the candle wicks or do you draw from the candle bodies?

Do you allow for overthrows to underthrows?

Some charting platforms allow one to incorporate standard deviations from the line which makes sense if you believe trendlines should be drawn with a crayon, not a pencil.

[jazz]

Why not buy the 5-7 company stocks directly in your own portfolio?

Suncor
Cenovus
Crescent Point
Enbridge

I respect errol, but he is wrong about oil. It has nothing to do with inflation. It has everything to do with supply side constraints due to ESG lunacy and underinvestment for the past decade.

The policy will first drive oil into the triple digits, maybe even as high as $200.

Then some braniac will realize that NG is the only bridge fuel that exists, then some next genius will finally realize nuclear is the only source that will ever supply this fairy take. I am bullish on oil, gas and uranium.

[AlbertaFarmer5]

Suncor
Cenovus
Crescent Point
Enbridge

I respect errol, but he is wrong about oil. It has nothing to do with inflation. It has everything to do with supply side constraints due to ESG lunacy and underinvestment for the past decade.

The policy will first drive oil into the triple digits, maybe even as high as $200.

Then some braniac will realize that NG is the only bridge fuel that exists, then some next genius will finally realize nuclear is the only source that will ever supply this fairy take. I am bullish on oil, gas and uranium.

Agreed, the coming oil and gas boom is going to happen regardless of inflation. It is all about starving the industry of capital, and regulating them out of existence, and the predictable resulting plunge in every aspect of production, from exploration to downstream processing. The industry is so far behind ( at least in the western world), that it will take years for supply to catch up to demand, once they get brave enough to start investing again, and governments get a clue get out of the way.
And in the meantime, between workers abandoning the industry due to lack of work, and baby boomers retiring, there will be ( already is), an acute shortage of skilled labour to make it happen.

I argue that we aren't even into the first inning yet. I expect that at some point oil and gas will get so expensive, that even Chuck's imaginary solar panels will have a positive ROI in comparison.

[Richard5]

Novice investor.

Have some in funds with "financial advisor" but don't have an active account.

Probably look to Nuttall for advice at start so why not just buy his fund? Looks better than what I have now.

I hear ya on the novice part

I would suggest either setting up a Questrade or Scotia itrade account and putting small or comfortable amount in to learn the process. Its not that hard just need to be disciplined and careful.

You could also do a sort of "fantasy investment account". Pick your stocks, write them down and monitor. Sad thing is no real money gained, good thing is no money potentiionally lost

[wheatking16]

I hear ya on the novice part

I would suggest either setting up a trade account and putting small or comfortable amount to learn the process.

You could also do a sort of "fantasy investment account". Pick your stocks, write them down and monitor. Sad thing is no real money gained, good thing is no money potentiionally lost

I would strongly encourage a paper trading account and finding a mentor or such to learn from.

When I started, I thought it would be easy and did not spend enough time paper trading.

There is no rush and money leaves faster than it comes.

YouTube is awash with B.S. so pick carefully.

I went thru quite a process searching for the magic signal.

There isn't one.

As with most things in life, Keep it Simple rules the day.

I have a Telegram Group where I post ideas and members ask me questions.

It is unlike most groups as I limit the chatter to keep it constructive and I offer a similar analysis to this.

I focus on stocks and crypto with not much for grains.

It is free to join and you might find it helpful.

https://t.me/klarenbachresearch