Crude Oil: where it goes from here?

nice post, thx a lot for the input.
But still, from the technical analysis stand point, all indicators driving north. I know that TA is not the absolute weapon, but the picture is positvely up right now.
 
Quote from mtzianos:


The oil-producing nations (OPEC etc) have said this INNUMERABLE times since 2004, but I guess nowadays they just sit back and enjoy windfall profits, thanks to Dubya's BigOil and WallStreet speculators.
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you were doing ok till you got to this part.

gag me.

WTF kind of deluded nonsense is this? Please tell us you were making a funny.

and the other guy says "nice post."
 
Looking at todays move it seems to me that crude has still some juice to the upside, it just hit 67.250 as I write this. This being said, fundamntalists and other traders here at ET, seem to look only south. Yet, while crude is rallying, equities and especially the russel 2000 dont sink, quite the contrary. What does this tell us? IMHO that public sentiment is bullish on equities and that somehow they sense that there is some exageration on the crude side. Yet again, who cares about public sentiment in trading ... public is always the "Johnny-be-lates" arent they.
 
Quote from stav:

Looking at todays move it seems to me that crude has still some juice to the upside, it just hit 67.250 as I write this. This being said, fundamntalists and other traders here at ET, seem to look only south. Yet, while crude is rallying, equities and especially the russel 2000 don't sink, quite the contrary. What does this tell us? IMHO that public sentiment is bullish on equities and that somehow they sense that there is some exageration on the crude side. Yet again, who cares about public sentiment in trading ... public is always the "Johnny-be-lates" aren't they.
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I like this new line in the financial media "its different this time crude at $60.00 wont hurt the economy" It will take 100 dollar oil to slow the economy, as the wealthy investors tip tow out the back door, and mom and pop keep buying stocks, oh this is sad.
 
Quote from aPismoClam:

you were doing ok till you got to this part.

gag me.
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"Just follow the money"

As long as you agree with the rest of the "funnymental case".
 
Nope no inflation, thats right. Just take out the bad things we use on a daily basis, and presto no inflation. See kiddies thats called funny math. Thats how you do things in Washington, but you cant do this funny math in your household, sorry thats not for average folks, you play by our rules and we make the rules. We can bend em change em, do as we please.
 
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