Tag Archives: Oilcoin



The Crypto scene is up to about 951 so called Cryptocurrencies at this time. It is impossible for me to cover all of them in great detail, and I have no plans on doing so.  Any comments I do have, are strictly personal opinions and should never be taken as investment advice or perceived as a “Buy” or “Sell” recommendation.

Anything in Futures, Forex and now Crypto trading involves high risks due to the extreme leverage that Forex and Futures trading contains. It seems that Cyrptocurrency trading is also extremely leveraged, but until we look at it, one Crypto currency at a time, we will never really know the amount of leverage in each Crypto. Yes, I call it all a “Mania” but that doesn’t necessarily mean, that they are in price bubbles just yet. They also had “Forex Mania” when it started so, “Crypto Mania” is nothing really all that new. One of the best manias was the Dotcom Mania of the late 1990s, until they realized that the majority of IPO’s could never make any money.  There was another mania in the late 1990s, that very few people remember. It was constantly broadcasted and saw headline status until about 2001. Remember the mania that Y2K fears created? Not too many people do.  

Banking For The Cannabis Industry – Digital Currency | PotCoin.com

I made the big mistake of looking at the Crypto world with a rather high Elliott Wave degree level. This can’t happen because all Cryptos started from a Wave Zero location, making Potcoins just about 4 years old.  This is the Potcoin price in US dollars, and there are issues with its development as much of Potcoin is used for person to person exchanges.  They figure Potcoin will be used to make payments between growers and sellers as well. If there is anything to this Potcoin, like a bull market yet to come, then Potcoin should create more vertical moves in the years ahead.

In this case I used Minute degree wave 3-4 as my starting point, and it should eventually keep on producing higher lows.  With a Minute degree start, we still have a full 5 degree levels to use up before we reach a Minor degree wave 1. So many Cryptos can fail and when that happens the chart patterns would Flatline!

Quebec seems to be a hot place for pot related activities, with growing operations also being set up. Potcoin seems to be started in Quebec as well. I do have real money positions in two pot related stocks,  and I own two gold ETF related positions as well.

I’m not against speculation or all Cryptos, as I do own some Goldmoney. I still may create postings for Oilcoin and Goldmoney which have commodity related themes to them.

Some people I meet want to jump on the pot bandwagon, but when you ask them how serious they are, I find they don’t even have an open trading account.  These people are far too late, or far too slow getting into the game, as they get their information from people around them or the news on tv. Pot related IPOs in Canada have been around for a few years already, but picking the right one before it goes vertical is always a “Crapshoot”.

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Crude Oil Intraday Gyrations With Oilcoin Commentary!

This is the January 2018 crude oil contract. It’s starting to look like a triangle at this time, or a zigzag to a new wave 1-2 can also work. The triangle could head back down to the $55.20 price level so in the short term we could see some more bearish action.  Elliott Wave triangles do not show up in any wave 1-2 positions, they can  show up in “B” waves and any 4th wave. 

I’m sure the oil bulls will freak out when a deep correction happens, as bearish news could dominate,  as the oil price takes another hit.  It is harder to gauge the bearish mood during intraday corrections, but we have to keep in mind that a much bigger crude oil bullish phase, is still going to come.

Any big bullish phase that’s still to come could take all of 2018 and then some,  for this oil bull market to play out.  If we bring the same mentality to the oil market like there is in Bitcoin,  then any emotional commodities investor will get burned. Commodities are extremely cyclical and these cycles happen much more frequently than they happen in stocks.  From my perspective, I will remain bullish until this entire oil bull market has completed. 

If oil goes to $89 or to the old record $147 (double top), is irrelevant at this stage of the game. All the bearish news they can throw at us will mean nothing, as bull markets do not end when the charts are pointing down. They end when all the experts are in agreement, and are painting us  a wonderful picture with the oil price going much higher.  This may be hard for the majority to understand, but for the seasoned contrarians it’s all old school stuff.   A seasoned contrarian is someone that has been through 3 or 4 bear/bull cycles and has benefited from each one. 

For Bitcoin Zombies, staring at their mobile device, they will be happy to know that a potential “Oilcoin” is being developed! Yes, another ICO  joins the pack of 500 other coin offerings.

The Gold/Oil ratio is sitting at about 22:1, which changed little in the last month or so.  This ratio would have to compress much more before oil gets into an over-bought condition. 

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