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

[JSSPMK]

Quote from The Swordsman:

Inexperienced and humble is fine, but up to this point I've just seen him be inexperienced and cocky

Hopefully he does learn from all of this.

When a person is cocky he is always humbled down whenever something like this happens (he might not show it, nevertheless deep inside one can't deny a feeling of shame), if that person doesn't learn to respect the market then he will probably never make it. I think Increase has been humbled down by this experience, so it's best to move on

 

[atticus]

Short Aug CL from 134.95. ~10 handle TP and SL.

 

[eagle]

Everybody (guru, banks, governments, general public) seem to be one-sided that oil will continue to rise further. But we are feeling some difficulty to breathe from traders themselves, meaning that they are not yet quite sure about the rise. In the name of a dog, no reason that can be explained, I still hold on the number 39 is a top, ($39 on April 1980) and ($139 on June 2008). Whereas the OP might be right, he just missed a few points above his prediction.

 

[The Kin]

Quote from daddyeaux:

here's an ink blot test for trying to guess oil prices...

http://www.ssd.noaa.gov/goes/east/tatl/loop-avn.html

We're gonna have the largest spike of all time the second a hurricane appears in the GOM. I'm impatiently waiting though. I know a few people who know the models and farily decent at predicting hurricane development and its track. The result is I get the information well before it's reported on NOAA site and the media. Problem is there early calls were net wrong 2 out of 3 years. I still think this method works. In the past I was too greedy by acting too soon even on the smallest probability of GOM hurricane.

 

[The Kin]

^ Ignore the grammatical mistakes in my post above. I'm too much of a lazy ass to fix them.

 

[Landis82]

Quote from The Kin:



I know a few people who know the models and farily decent at predicting hurricane development and its track. The result is I get the information well before it's reported on NOAA site and the media. Problem is there early calls were net wrong 2 out of 3 years. I still think this method works. In the past I was too greedy by acting too soon even on the smallest probability of GOM hurricane.

Does this mean that you will be starting your very own newsletter soon?

 

[increasenow]

5-Days 134.73
20-Days 130.31

when these moving averages are breached...look for more downside...daily charts are very bearish...again...bearish...see $135.00 as stiff resistance...

 

[increasenow]

Quote from eagle:

Whereas the OP might be right, he just missed a few points above his prediction.

thanks eagle...IncreaseNow

 

[increasenow]

Quote from solfest:

I tried suggesting we were at the end of the crude oil run a couple of times now.

I give up.

The trend is long until it is short.

The 34 EMA on the daily has been support several times now.

I don't think you can call a trend change until it is broken, and maybe wait for a 50 - 100 EMA breach as well.

Its been a great market, and can be just as good on the way down.

http://tradingcrude.blogspot.com/

I think the downside is upon us...do you see it honestly hitting $140.00??...daily chart is looking very weak...comments...

 

[increasenow]

these quotes below..."A review of prospects for the remainder of the year also shows little support for prices to remain at current levels," OPEC said.

"That downward revision follows similar moves by the U.S. Energy Department and the International Energy Agency earlier in the week."

are from this article... http://news.yahoo.com/s/ap/oil_prices;_ylt=AmvsgmsQQBqLsNEqdqchjy2AsnsA