Black Gold

By: Joseph Russo | Thu, Feb 11, 2010
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TradeZone Strategy

Visual Guidance | Buy Weakness | Sell Strength >> Crude Oil

One of the highest standards in assessing forecasting models is to determine whether such models provide consistent forward-looking guidance before the fact, not after.

Though we presented the chart below to members on January 12, the highlighted signals began back on October 21, 2009.

We intentionally limit lengthy written arguments, and present guidance in the most effective format to act upon, visually. With that said, we will leave most of the storytelling to the charts.

Every Chart Tells the Story

From October 21 - December 11, Crude Oil plunged $12.20 or 14.87%. From December 11 - January 11, Crude rallied back $14.14 or 20.25%. From January 11 - February 5, Crude plunged again, this time by $14.45 giving up its previous advance entirely.

Illustrated, are the results of our strategic forecasting models, which we construct to buy weakness and sell strength. These visual charts delivered membership the forward-looking guidance to capture major portions of each of these significant moves.

Whether accessed through our (NTO) Near Term Outlook, (PTP) Position Traders Perspective, or Platinum service, members following our Crude Oil charts from October of '09 have had four killer opportunities to reap extraordinary profits from the visual forecasting guidance presented in our publications.

Since our most recent bullish buy-signal noted on February 5, Crude has rallied $5.02 or 7.22% to its closing price of $74.52 on February 10.



Joseph Russo

Author: Joseph Russo

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo

Since the bubble, 911, and the 2002 market crash, Elliott Wave Technology's mission remains the delivery of valuable solutions-based services that empower clients to execute successful trading and investment decisions in all market environments.

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating their exposure to the financial markets.

Since the official launch of his Elliott Wave Technology website in 2005, he has established an outstanding record of accomplishment, including but not limited to, ...

  • In 2005, he elicited a major long-term wealth producing nugget of guidance in suggesting strongly that members give serious consideration to apportioning 10%-20% of their net worth toward the physical acquisition of Gold (@ $400.) and Silver (@ $6.00).

  • In 2006, the (MTA) Market Technicians Association featured his article "Scaling Perceptions amid the Global Equity Boom" in their industry newsletter, "Technically Speaking."

  • On May 6 of 2007, five months prior to the market top in 2007, though still bullish at that time, he publicly warned long-term investors not to be fooled again, in "Bullish Like There's No Tomorrow."

  • On March 10 of 2008, with another 48% of downside remaining to the bottom of the great bear market of 2008-2009, in "V-for Vendetta," using the Wilshire 5000 as proxy, he publicly laid out the case for the depth and amplitude of the unfolding bear market, which marked terminal to a rather nice long-run in equity values.

  • Working extensively with EasyLanguage® programmer George Pruitt in 2010 and 2011, the author of "Building Winning Trading Systems with TradeStation," he assisted in the development of several proprietary trading systems.

  • On February 11, 2011, he publicly made available his call for a key bottom in the long bond at 117 '3/32. Within a year and half from his call, the long bond rallied in excess of 30% to new all time highs in July of 2012.

  • For the benefit of members and his general readership, he responded to widespread levels of economic and financial uncertainty in the development of Prudent Measures in 2012.

  • He publicly warned of a major top in Apple on October 26, 2012 in the very early stages of a 40% decline from its all time high.

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