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We hit some nice support levels yesterday with a quick spike down below them to 1391.90 SPX. I think we are going to "bounce" back up here . . . with a 2-day rally back up to the 1411/1424 levels. Then, after such a bounce I can see a 5-8 session decline down to the 1374/1362 levels.

Mup, time to revisit the OIH chart! 221 HIGH today and then backed off all the way to the 38.2% retracement of the rally up from last Thursday intra-day . . . at 214.00 :)

Jim's never had a losing trade. Ever notice that??? :D

Here's a better question . . . How's your "DCR" trade working out?

Yes, Mr. Masters offers $265 BILLION reasons as to why speculation has fueled part of the price rise in crude oil. An interesting read.

The NYSE specialist has no control over prices "printed" on other routes. You need to be much more specific in the question that you are asking.

Ask S2007S about the "DCR". http://finance.yahoo.com/q?s=dcr :D

Agreed. People like S2007S must have been dropped on the delivery room floor when they were born . . . hence the "suicidal" contrary gene that makes them continue to bang their head against a Brick Wall. No stops either. Just absurd.

Trading off of an "overbought/oversold" oscillator is a sure fire way to the poor house. You need to first IDENTIFY the TREND before using such an indicator. Being overbought in a Bull Market is extremely BULLISH. Vice-versa with being oversold in a Bear Market.

He keeps saying that ONLY 10% of his account has a short bias in oil. But let the record show that he started posting back on April 2nd about how he bought a 1/2 POSITION in the DUG all the way up at $37.00...

He has absolutely ZERO clue about what he is doing. He clearly lacks even the most BASIC UNDERSTANDING of the vehicles that he allegedly "trades" with. His understanding of the "DUG" is right up there with the DCR which is currently trading at $1.10 and down from over $3.00 where he says...

I'm sorry, but this is why ET has become so ridiculously absurd. Why would anyone want to use a trailing P/E on the market? Ever heard of P/E compression? The market is a huge discount "machine". A "trailing" P/E number ( as you have posted ) is totally worthless.

I believe so. And with RAM so cheap these days, this is a "no-brainer".

Again, all this from the guy that didn't know that futures margins are set by the Exchanges, and not the broker.

How ironic that you put all of this blame on Bernanke, yet conveniently avoid mentioning the name of the idiot that appointed him, and countless other incompetents.

Forget about the "conspiracy" theories and stop being so ridiculous . . . It is strictly a marketing ploy by Goldman to get some free publicity and advertising. Throw out a nice big round number that seems a bit outrageous ( like $200 oil ) and every newswire in the business will be covering...

Leave it someone on ET to allege that Goldman Sachs has the power to send a Global Commodity higher day after day after day . . . Go figure.

All this from the same "kid" that didn't know that overnight margin on ES futures was set by the Exchange. Will wonders ever cease on ET. :eek:

New LOWS again!!! 26.26 intraday :eek:

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