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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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Author Message
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Wed Jul 16, 2008 2:50 pm   Subject: Re: Another Record ($147.27)
Ok, smallpox, I get it! Now tell me when it goes below about 115-120$ please so I can buy a crapload more USO! Wink

Most of the time charts and graphs with trendlines, averages, candles, etc, etc w ...
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Wed Jul 16, 2008 2:42 pm   Subject: Re: Another Record ($147.27)
Wow, I would have swore the support was going to hold and we'd see a spike to $150!

This is going to leave a lot of bulls hungry for more......

Like you said SPG, I think the correction is now ...
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Wed Jul 16, 2008 5:43 am   Subject: Re: Another Record ($147.27)
Yea Smallpox I think the end is near too and that dive to the 200dma will happen soon. I can't see it ending now though without hitting $150(self fulfilling prophecy) and without one more big spike up ...
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Tue Jul 15, 2008 10:39 am   Subject: Re: Another Record ($147.27)
Time Out.....

Let's put things into perspective.

Look at this chart below. If the price doesn't CLOSE below the blue line (40 day moving average) which is currently a little below $135 then the ...
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Thu Jul 10, 2008 10:31 am   Subject: Re: Another Record ($145.85)
Well the price of oil stayed above the critical support levels a couple of us were watching and appears ready to move up again for a while.

If my theory that the current ceiling for oil is 1.421 x ...
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Tue Jul 08, 2008 10:28 am   Subject: Re: Another Record ($145.85)
If this stays above the 40 day moving average there's nothing to worry about. If we go very far below $132.64 and close below it then look out below. We could see as a low something between $100-$11 ...
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Tue Jul 08, 2008 7:14 am   Subject: Re: Another Record ($145.85)
I was thinking the same thing about it going to the 40 day moving average which the oil price has been above since early February. It's currently at $132.64 as shown by the blue line below.
http:/ ...
  Topic: Another Gasoline Record
chuck6877

Replies: 487
Views: 38262

PostForum: Current Events   Posted: Mon Jul 07, 2008 9:11 am   Subject: Re: Another Gasoline Record

You think that hurts? Try filling up my diesel Suburban with the 44 gallon tank! At least I have the option not to drive it.

I really feel for the folks out there who have to use big vehicl ...
  Topic: Electric car maker poised to shock auto industry
chuck6877

Replies: 116
Views: 5435

PostForum: Current Events   Posted: Sat Jul 05, 2008 6:22 pm   Subject: Re: Electric car maker poised to shock auto industry
I just hope this battery technology will eventually replace my laptop battery.

I'm getting sick of my laptop dying after 45 minutes of not being plugged in!
  Topic: Another Record ($147.27)
chuck6877

Replies: 282
Views: 18748

PostForum: Current Events   Posted: Thu Jul 03, 2008 6:56 am   Subject: Re: Another Record ($144.53)
Does anyone remember my post on 1.421 times the 200DMA appearing to be a ceiling for WTIC?

Well we still haven't surpassed it.

The 200dma is about $103.50 now and when it gets to $105.5 in about ...
  Topic: Another Record ($143.67)
chuck6877

Replies: 2569
Views: 196126

PostForum: Current Events   Posted: Thu Jun 19, 2008 10:46 pm   Subject: Re: Another Record ($139.89)
Well folks,

That flag formation broke down.

What usually happens after a flag formation breaks to the down side?

I dunno. That was a pretty wimpy breakout. The low today was still higher ...
  Topic: Another Record ($143.67)
chuck6877

Replies: 2569
Views: 196126

PostForum: Current Events   Posted: Thu Jun 19, 2008 6:03 pm   Subject: Re: Another Record ($139.89)
Well folks,

That flag formation broke down.

What usually happens after a flag formation breaks to the down side?

I'm betting we ATLEAST go down to the 40 day moving average (blue line belo ...
  Topic: Another Record ($143.67)
chuck6877

Replies: 2569
Views: 196126

PostForum: Current Events   Posted: Tue Jun 17, 2008 9:29 am   Subject: Re: Another Record ($139.89)
The Oil Stock Index ($OIX) looks like it's starting to break out to the upside today after it's been consolidating.

This would be BULLISH for $WTIC.

The $OIX has been making its big moves before ...
  Topic: Another Record ($143.67)
chuck6877

Replies: 2569
Views: 196126

PostForum: Current Events   Posted: Tue Jun 17, 2008 12:21 am   Subject: Re: Another Record ($139.89)
To all of you,
Thanks for the explanation Smile

I'm sure we'll be through $140 soon enough........(in the front month!)
  Topic: Another Record ($143.67)
chuck6877

Replies: 2569
Views: 196126

PostForum: Current Events   Posted: Mon Jun 16, 2008 10:03 pm   Subject: Re: Another Record ($139.89)
$140.42 as the NEW HIGH!?

Look at the chart below for WTIC which says that is the new high!?

http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&b=6&g=0&id=p21814216162
 
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