Some play it long, Some play it short

Hey Trader, How did you play the market correction this week? Did you play it long by buying discounted shares so that you can turn a profit as the price goes back up? Or did you bet on the market correcting itself and win a huge payday? Maybe you even played both sides a little bit. The way you decided to play it says a lot about your trading style. It can reveal your patterns and habits, your biases, your beliefs, your tolerance for risks, and how disciplined you are. What is your trading style and how did it work for you during this market correction? Reply to this email to let us know! To Big Profits and Beyond, Anthony Speciale Jr Editor, Big Energy Profits

Hawkeye Traders team1@hawkeyetraders.com hawkeyetraders.com

Crude News

Oil prices fell sharply on Tuesday, dragged down by a broader selloff in tech stocks but also from a darkening demand outlook. Brent dipped below $40 per barrel for the first time since June. Brent's three-month time-spread has widened to its largest divergence since May, a symptom of an increasingly weak market. Today's oil-price move is a clear sign that the market now seriously worries about the future of oil demand. Saudi Arabia cuts oil prices. Saudi Arabia cut the price for its oil that it ships to Asia, a closely-watched price marker that often sets the tone for the global market. Saudi Aramco cut the price for its Arab Light for October delivery by $1.40 per barrel. The price cut suggests demand is weak. A Bloomberg survey found that only 4 in 10 refiners in Asia said they were interested in buying more Saudi crude. IEA: Oil demand has stalled. The IEA joined the growing chorus of voices who see the oil demand recovery stalling out. It doesn't seem like a massive stock draw seems to be happening yet. We are not seeing a robust pickup in refining activity, and jet fuel is the big problem. Hedge funds turn bearish on oil. Hedge funds and other money managers recently swung in a bearish direction. For the week ending on September 1, investors sold the equivalent of 40 million barrels in the six most important petroleum futures and options contracts.

How to Master Market Cycle Psychology: The Thrill Phase

The thrill phase represents the best turning point in the market cycle. It's the start of the good times and a bull rush. The thrill is when things simply get "lit" or crazy. Can you remember the moment when something just started to get really good? Maybe it was a particular season of your favorite show… more people showing up at a fun party… or a major draft pick of an exciting player by your favorite team. Thrill follows those same moments in the market. And time and time again, we've seen many securities make that type of splash. Certain securities and other instruments such as ETFs, bitcoin, and gold have all hit the thrill phase which has sparked an immediate rise in volume and price. But the key to enjoying the thrill is to already have yourself positioned before the thrill sets in. The Anticipation Before the Thrill There are a lot of factors that lead to a gold rush but it mostly comes from competition. In the stock market, there are so many securities vying for your dollars and investment. The key is to separate the wheat from the chaff. There are truly helpful and valuable assets and other securities that are just gimmicks, knockoffs, or pump-and-dump schemes. But only the best traders do their due diligence and confirm the hype. Thrill in the market cycle can present itself to you in so many ways you don't see. So you have to get on it beforehand. Blink, and you'll miss it. Apart from using trading strategies and doing your research, you should have a keen eye for trends and how the financial world is changing around you before the hype blows up in your face. For example, traders might feel they missed out on Tesla Inc. (TSLA) surging past $2,000 in August, but anyone who had a position before then couldn't wait to tell you: You've got to get in on this before the stock split You can buy this when the stock splits Tell your friends to buy! But remember this is a foreshadowing. Nothing good lasts forever. It's All Downhill From Here Just when things get good, they can also spiral into something out of control or become unsustainable. Just when writers write their best season for a TV show, it may also be hard for them to top that. Or the thrill of a really good party gets shut down for getting out of control. There's just a foreshadowing of imminent risk. Any phases of thrill in the market can be exposed to dangerous territory. But the amateur traders don't realize it until it's too late. And traders who got in are already lost in the euphoria of all it. That's another market cycle phase to watch out for right after the thrill. Keep your eyes peeled.

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Daily Analysis

WTI Light Sweet Crude Oil Futures Analysis … CLV20 Near-Term Outlook: The mid $38.00 - $49.00 price area is likely to contain buying strength into October trade. The $31.00 price area is most likely able to be reached within several weeks. Near-Term Bullish Scenario: Closing above the $39.00 price area indicates the mid $47.00 - $50.00 price area is then likely and a high probability for topping out the oil market for the balance of the year. Near-Term Bearish Scenario: Closing below the $35.00 price area allows for a bearish rotation towards the $31.00 price area likely within several weeks.. Key RESISTANCE price areas for WEDNESDAY are likely to be: $37.20, $37.60 - $37.90, $38.40, $38.75 - $38.95, $39.30, $39.65, $39.90, $40.35 Key SUPPORT price areas for WEDNESDAY are likely to be: $36.70 - $36.30, $35.70 - $35.30, $34.75 - $34.35 Wednesday's Trading Price Range is likely to be: High: $38.13 / Low: $35.29

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