20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008

Quote from marketsurfer:

"In a market like today, which is trending higher while open interest is falling, it's a sign that money is moving out of the market."

Facts are that the interest on NYMEX crude oil futures peaked on March 13th at 1.5 million barrels. A record number of small speculators, per the CFTC, were short, betting on a fast drop during the week of May 6th. I stand by my contention that it is a speculative frenzy driving prices at these levels, and not true supply/demand dynamics. We may be due for a pull back.
More...
great post and I agree..."we may be due for a pull back"...I believe a HUGE crash type pull back...
 
Quote from bobbymak880:

increasenow:

GREAT post.

Concise and easy to read, even for a high-school graduate like me.

I'm shorting CL!


Have a good weekend!

B
More...
thanks bobbymak880...hey, please make NO short CL or long CL trade based on this thread or my comments or any ones else comments...these are my thoughts and opinions only...I will be looking for shorting opportunities in CL and Brent crude come this Tuesday morning...will not trade CL or Brent crude tomorrow night or monday...best trading to you!
 
Quote from sumosam:

All I know, is that, according to EW, oil will still go up for a bit, but a violent crash is on its way....the question is when.

The last two days, I have seen oil stocks pull back. To me, when I see stocks pull back it is a reliable indicator that the commodity will soon follow.:cool:
More...
who is EW?...also, great post!!!...I agree with you..."A violent crash is on the way"...like, Nasdaq in 2000, Dow since last year, Wheat, Soybeans, Gold, Euro compared to its peak etc...
 
Quote from ess1096:

Price is right at an overhead trendline on the weekly. Yes, it could break out above it, or even ride it's way up the line for a while. But if it's going to pull back this could be a good place for it.
More...
great post...thanks!
 
The US burns 400 million gallons of gas EVERY DAY.

try to turn that battleship around in a bathtub.

big drop in price?... can't see it
 
Quote from daddyeaux:

The US burns 400 million gallons of gas EVERY DAY.

try to turn that battleship around in a bathtub.

big drop in price?... can't see it
More...
what range do you see it trading in then?...I.E $130 to $150...???as for your thoughts on this...thanks...
 
I can see 200..why not

any drop in price will be soaked up by Asia..they got the cash

unless we can wheelbarrow 60 trillion dollars of face valued AAA rated credit default swaps to the gas pump and pay for gas with that.

shit.. nobody wants it.. better do plan B

Americans are clueless as to what it going on.
 
You must log in or register to reply here.
Back
Top