Oil Limit Up - I Am In Awwwww

P

Port1385

The charts were telling me that oil was about to breakdown, I was ready...then suddenly price limits up and appears like Google after its last conference call on the chart.

All I have to say is that I am in awwww.....
 
I'm going to be on the lookout for what happens when it hits $150 or near it, everyone seems determined to push it there. Will look for selling near there.
 
Quote from Susannah:

I'm going to be on the lookout for what happens when it hits $150 or near it, everyone seems determined to push it there. Will look for selling near there.
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If "everyone" is pushing to 150 then you're gonna get your ass handed to you shorting from there. Why not wait for a reversal to confirm?
 
Quote from opm8:

If "everyone" is pushing to 150 then you're gonna get your ass handed to you shorting from there. Why not wait for a reversal to confirm?
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You mean like the reversal off 135?
 
I didn't mean I'd short the minute it hits $150. I just meant I think it will at least get there, since that seems to be where everyone is pushing it too. Maybe it'll top out before then, who knows, but unless I see a huge drop before that level, that's when I'll start paying attention.
 
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNrvd_rk.PUs&refer=home

``The surge in unemployment is probably an aberration,'' Thomas J. Lee, the New York-based chief U.S. equity strategist at JPMorgan, said in an interview...

``At the end of the day we still have things overhanging on stocks, we still have high oil prices and we still have the credit cycle we're going through,'' Lee said. ``But ultimately the economic data is showing the economy is pretty resilient.''
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I'm going with Mr. Lee here. I find it pretty unusual that NFP would beat the analyst estimate and yet it still sparks a sell off in dollars, a buy up in oil, and consequently a sell off in stocks. Look for a recovery on Monday!
 
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