Another record (archive)

Leanan · News Editor Joined: May 20, 2004 Posts: 4533

Breaking news at CNN:

U.S. crude futures rise to record $45.90 a barrel

{Note: this thread has been locked as it has become so long. The continuation of it is right here}

smiley · Fission Joined: Apr 16, 2004 Posts: 2126 Location: Europe

Yep and the US trade deficit rises to 55.8 billion dollars, another record.

Aaron · Posted: Fri Aug 13, 2004 8:41 am Post subject:

We should make a "Leanan's Records" forum... Smile

If we set a new record everyday, when does it become common enough, that it's not really a "record"? I mean if we set a new one every day then...
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Leanan · News Editor Joined: May 20, 2004 Posts: 4533

Not every day! We skipped...Tuesday, I think. Confused

OilBurner · Heavy Crude Joined: Jun 03, 2004 Posts: 417 Location: UK

According to Reuters:

Carrie · Posted: Fri Aug 13, 2004 10:59 am Post subject:

We just reached $46 a barrel. Shocked

Leanan · News Editor Joined: May 20, 2004 Posts: 4533

Wow. CNN reports it touched $46.35.

They are also reporting that Hurricane Charley is now a Category 4. Yeek.

KiddieKorral · Posted: Fri Aug 13, 2004 12:34 pm Post subject:

Crap, I hope I still have some of that plywood in the garage...

*leaves to board up*
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lotrfan55345 · Posted: Fri Aug 13, 2004 3:49 pm Post subject:

Wow, all so optimistic! :D

smiley · Fission Joined: Apr 16, 2004 Posts: 2126 Location: Europe

Fasten your seatbelts.

This rise leaves the way open to $48. That's the next point which could pose some resistance, according to the technical analysis*

*which in my opinion really is a load of crap and works only because everyone believes in it.

Leanan · News Editor Joined: May 20, 2004 Posts: 4533

It ended above $46. Sheesh.

And I hope Kiddie's okay. Didn't she say Category 4 meant "Grab the kids and the valuables and evacuate"?

The damage looks pretty bad, judging from CNN. This storm was a surprise. The track changed, and the storm went from a Category 2 to a Category 4 in just 90 minutes.

They even cancelled the Tampa Bay Bucs football game that was supposed to be tonight...

lowem · Posted: Fri Aug 13, 2004 8:34 pm Post subject:

If you're talking Fib levels, they're :

45.36 (surpassed!), 51.45, 61.29

For some days we were all watching it bounce around $45. The chart looks kinda interesting because it looks like a "way-overbought" situation with Slow Sto trundling about 80 and RSI at 70.

But despite all the TA mumbo-jumbo, in the end ... we can't really tell the future, can we?
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lowem · Posted: Fri Aug 13, 2004 8:36 pm Post subject:

Hmm. IMG tag not working. Anyway, here's the chart in full :
http://stockcharts.com/def/servlet/SC.web?c=$WTIC,uu[m,a]daoaynay[dc][pb50!f][iLb14!Lh14,3]&pref=G
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Live quotes - crude oil, gold and currencies
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Leanan · News Editor Joined: May 20, 2004 Posts: 4533

Another record last night: $46.91.

$50 a barrel before Election Day is starting to look like an underestimate...

Desire · Tar Sands Joined: Jun 20, 2004 Posts: 72

Ironically, it went down again after it became clear Chavez would stay in power.