Summary

Traders trade, that's what they do, don't listen to their stories though.

Oil is at the bottom of it's new range, it's an easy buy once again.

The intermediate bias in oil is bullish and so is the short-term.

Buy oil ETFs as futures swing back to backwardation from contango.

Traders, from time to time, give us slow handed folks a wonderful opportunity. The traders will beat down or drive up an asset to silly price levels, unsupported by fundamentals, setting up high probability reversal trades. That's the land I trade a bit. 

If you watched my last several webinars, then you saw how my group of slow handed position traders, who occasionally swing trade, were able to sidestep the October correction and get into the PowerShares QQQ ETF (QQQ), Tesla (TSLA), Amazon (AMZN), Googlebet (GOOG) and First Solar (FSLR) very close to recent bottoms. 

How did we do it? Well first, we understood what was really driving the stock market, which was the stock buybacks. So as not to rehash, you can read all about it here in my Editor's Pick 4th Quarter Macro and Market Outlook, and a follow on piece - Q4 Portfolio Playbook Review.

Right now, the traders are giving us another wonderful set-up to jump into. This time, the trade is in oil, something we have fairly successfully traded the past few years. To read more, a subscription is needed: Click here to subscribe