ES Journal Archive (2006 - 2008)

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Quote from princessa:

i really mean no disrespect, jss, so please don't take this in the wrong way, but...


what makes you think your friend, although truly believing what he says, is not wrong? is not in fact brainwashed by the corporation he works for?

i have seen tobacco company executives state with a straight face that cigarettes don't harm you. said executives also themselves smoke to show that they really believe this.

i think it's possible to want to believe in something so much that you believe it despite it's being obviously (to everyone else) wrong. consider that your oil friend, especially if he's invested in his company, may believe a fallacy.


other examples of debates which (probably) should not be but are based on wanting to believe something regardless of facts to the contrary: global warming, evolution, high fat foods harming your health. all of these have facts to support them, but there are those who have a vested interest in believing the opposite so they argue the contrary.


again, no disrespect intended, i really love your posts. just a point of view on this topic of denial.
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None taken :) TY for compliment!

Put it this way, I know nothing about what is happening to oil supply, neither do I have any understanding of current demand levels & how to interpret them. But I tell you this, ImPO you gotta listen to what smart minority is saying & try to understand why are they saying that. My belief is that a lot of news are fabricated to support trends, I believe that a lot of money has moved away from stock markets & went into commodity markets + USD's stability is still an issue. I would keep an eye on weekly histogram to see weakening upside, if & when it happens I wonder what majority of people would be saying then. Let's wait :)

Pekelo, what have dodos got to do with oil my man? Again, where do you get your primary indicators regarding supply/demand from? TY!

Also, I am of an opinion that IF what 'they' say was to be true about this planet running out of oil, then we ought to have seen a massive melt up of price which hasn't taken place, we have a very strong trend, but no schtick. Commodity trends are cyclical in nature, there's a start & there's an end which leads to a start of another trend, we know this. So assuming that this is still how it is, then IF & WHEN oil upside trend ends would we then say that there is no problem with supply all of the sudden? Weren't we running out of oil before?
 
Quote from volente_00:

The only question is how low does it go after the bear market level area at 1260 fails to hold ?



Options paint 1200 as the downside target and 1350 as the upside. We shall see.
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Are we there yet ?


:)
 
Quote from JSSPMK:

I see INDU daily's histo pointing to a bounce, we are overdue for a retracement ImPO.
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Guys, check out the RTH 15-min chart.

The last 3 walls are very structured - 78, 58, then yesterday 38.

20 points apart each time. As if someone has been selling the bounces with a plan.

The one topped at 78 was very odd (I mentioned that in this thread) because it struggled there for 2 hours in a flat line fashion before the fall.

The one from 78 dropped 50 points, and the one from 58 dropped 30 points.

So my guess is that this one could be targeting 1208 if it is a 30 points one, or 1188, if it is a 50 points one.
 
Quote from JSSPMK:

I see INDU daily's histo pointing to a bounce, we are overdue for a retracement ImPO.
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Daily chart is still in down channel. 60 min is showing signs of bouncing to fill the gap from yesterdays close then we take out the overnight low.


:cool:
 
Quote from Lawrence Chan:

Guys, check out the RTH 15-min chart.

The last 3 walls are very structured - 78, 58, then yesterday 38.

20 points apart each time. As if someone has been selling the bounces with a plan.

The one topped at 78 was very odd (I mentioned that in this thread) because it struggled there for 2 hours in a flat line fashion before the fall.

The one from 78 dropped 50 points, and the one from 58 dropped 30 points.

So my guess is that this one could be targeting 1208 if it is a 30 points one, or 1188, if it is a 50 points one.
More...


today is going to be a parabollic down day. There is nothing stopping the down from falling 500 or more points today.
 
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