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BofA's Stolpered Out Of Its Long WTI Reco In Under One Week
Three weeks we were delighted to crown BofA's chief technician MacNeil Curry as the new honorary "Tom Stolper" - the person whose trade recos are to be faded with impunity. Today, we got the latest confirmation that Stolper, if only in spirit, is alive and well, and still providing countless fading opportunities.
Last Tuesday, Curry had a trade reco for BofA muppets, and an anti-trade reco for anyone who actually wants to make money. To wit:
Time to buy May WTI (CLK5)
Since Feb-03, CLH5 has been consolidating in an increasingly well defined contracting range. That range is almost complete and the larger uptrend is poised to resume for 59.99/61.59. Additional weakness should be seen as a buying opportunity and limited to Triangle support at 50.73. A break of 50.20 (Feb-11 low) invalidates the bullish setup.
Buy CLK5 at52.50, risk, 50.15, target 59.99 and potentially beyond
Just 6 days later, anyone expecting to find out what "beyond" may mean can stop holding their breath.
- Stopped out of CLK5 long
Nothing more, because when losing clients money, what's the point of waxing poetic.
The best news: we have a new trade reco: "Sell €/$ at 1.1290 (on a stop), risk 1.1451, target 1.0765 "
You know what to do.
* * *
Update: literally moments after our post, the algos demonstrated they obviously "know what to do" and sent the EURUSD soaring.
Thanks Stolper, er, Curry for another quick and easy profit.
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Just a flesh wound....and chicks dig scars.
Plus he undoubtably has the opposite side of his own recommendations. The man is not a total fool.
Of course his real bets are different, this is for the cattle on the way to the slaughter.
Ask a Progressive: It's because of electric cars, racism and everything else is Bush's fault
Wax Poetic?
Let me try…
I know I told you to go long.
But now I know that I was wrong.
I trusted in the charts to tell.
When to buy and when to sell.
Things looked like they were done and said.
But nothing’s real thanks to the Fed.
And now there are no fundamentals
Technicals or sentimental
Aspects that can overcome
All the damage that’s been done
By money printing, program trading
HFT’s and muppet fading.
Nothing’s left but intervention
And precious metal price suppression.
What really has been done and said:
The markets dead thanks to the Fed.
Ask a Regressive
there...much more accurate term when it comes to those scumbags. ;-)
Long NZD/USD........
(I know) Player's gotta play.
Laffing so hard I chunked a Cheerio out me nose ...
Trying to pick bottoms. Muppets.
lol Sell €/$ at 1.1290 (on a stop), risk 1.1451, target 1.0765 . At this rate we might have to rename the contrarian Stolper trade ,to the contrarian Curry trade.
What's it mean when a Government official (in this case Denmark) says "we will defend out currency peg to our last drop of blood"?
It means, they are in the process of caving.
Don't hate the player, hate the game!
Duly noted...
I cannot figure out why he would make a recommendation in any direction. The EURUSD has been in a tight range (<200 pips) since 01.28.2015. The only wise position for this pair is FLAT.
Disclosure: I'm flat this pair.
You mean the Federal Reserve of Boston has a 100 trillion in IOU's?
Wow...far out dude.
That's some wild math you guys be doin.
"soaring" from $1.13 to $1.13. lol
More like "constant frauding operat..." err, you're right..."opportunities."
Can someone please explain to the Banking regulators of Massuchsetts (sic) what the difgerence between money and debt is?
Or have they just been Corzined too?
It's ok, Yellen has read Greenspan's "How to WIndow Dress the Shit out of Stocks".
Bank of America is fine!
Yeah, just a flesh wound for the poor chumps that bought gold a month ago at $1300 hoping for the big move but it moved the wrong way as usual.
Seems to me the people that run this site don't understand if oil goes down, gold will too. The fact is, if you bought oil in the middle of January at $44 and gold at $1300, you would still be a 10% winner on oil and sitting on a 8% loss with gold.
Oil is a liabilty...not an asset.
Good luck convincing me that gold...or silver...is that.
Negative rates? Say hello to "negative prices...
On what balance sheet is oil a liability? My observation stands, gold is a loser since $1300 and oil is a winner since $44, try refuting that.
Go long a pair of Schnaubles getting rubbed this week
Anyone know where Tom Stolper is now?
Continuing criminal enterprise, aka, Bank of America, suggesting investment ideas? Ummm....sure. I also get financial advice from the crack whores at Well Fargo.