What about the huge drop in crude?

C

Cutten

I find it strange that this has got almost no comment on ET. Oil has just puked almost 10% in a few days, yet there is an eerie silence and virtually no posts about it.
 
GS said it was a sell so.... :)

its just consolidating gains.

1) oil up
2) gold up
3) vol up
4) bonds up
5) equities down
6) dollar down

bigger macro trade...
 
Markets with record speculator longs generally don't consolidate. They either spike up or collapse. Once the momentum to the upside is broken, they are very risky.
 
Quote from chauncey1:

I think it may be a good bounce play around 85-87
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Nice call! a combo of fib support, 40 day MA, and trendline all fall in the 85-87 area, we were looking at those exact #'s today.
 
IEA reduced 4th quarter global demand estimates and one of the OPEC producers mentioned increased output so you got reduced demand news and increased supply news coming with oil just below $100. Perfect scenerio to deflate the balloon for a bit.
 
Quote from Cutten:

I find it strange that this has got almost no comment on ET. Oil has just puked almost 10% in a few days, yet there is an eerie silence and virtually no posts about it.
More...

Probably no comment because this isn't a HUGE drop, it's nothing but a small correction. I'm not surprised if we even go back to 80 for a bit, before we move higher.
 
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