CL Redux

Quote from BCE:

Time after time the indices have rebounded from any morning pullback. Seems to me they're very overbought and one of these times they'll sell off even more instead. This may not be significant enough news to create that reality though.
Maybe we will get more of a selloff today. Sometimes these things are delayed. This is for the indices that is. Would CL follow?
 
Feb. 22, 2011, 10:25 a.m. EST
Iran ships passing through Suez without incident

SAN FRANCISCO (MarketWatch) -- Iranian warships on Tuesday were passing through the Suez Canal on route to Syria without incident, reports said, but Israeli officials have previously said that such a move would be considered a provocation. The ships entered the canal, which cuts through Egypt to connect the Middle East to Europe, at 5:45 a.m. local time on Tuesday morning, according to Reuters. The ships are the first Iranian naval vessels to enter the canal in more than thirty years.
 
Quote from NoDoji:

No, CL lives in a cave far from civilization. It answers to no index!
:D Sometimes it answers. or pretends to, and then it changes it's mind. :)
 
Consumer confidence being so good may prevent a bigger selloff. If that had been bad too, then we may have seen it.
 
Quote from NoDoji:

No, CL lives in a cave far from civilization. It answers to no index!

Here is a quote:

"It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead. "

Originally this was in reference to the terminator, but I feel it applies to the crude oil market as well. :D
 
Quote from InvestVision:

Here is one possible scenario for today

Stage 1: 95.50 now , Here comes Oil LONG funds cashing some of their positions and shorts joining them

Stage 2: Pound down to 94 level

Stage 3: LONG funds and MMs pull back to 97 level

..........
 
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