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joewp
Light Sweet Crude
Joined: Apr 05, 2005
Posts: 1658
Location: Springsteen Country (NJ)
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 Posted: Thu Jul 10, 2008 12:36 pm Post subject: Re: Another Record ($145.85) |
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Big move up in the last half hour of floor trading to close near $141.
Heating oil is back over $4 and gas is close to $3.50. There's going to be no respite from high prices.
_________________
Joe P. United Political Debate
"Only when the last tree is cut; only when the last river is polluted; only when the last fish is caught; only then will they realize that you cannot eat money." - Cree Indian Proverb |
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Niagara
Intermediate Crude
Joined: Aug 17, 2006
Posts: 546
Location: Mt. Hubbert Scenic Lookout
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| Posted: Thu Jul 10, 2008 12:46 pm Post subject: Re: Another Record ($145.85) |
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What just happened?
Oil just spiked sharply higher by 5 bucks. |
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Forney2008
Heavy Crude
Joined: Apr 16, 2008
Posts: 121
Location: Western PA, USA
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| Posted: Thu Jul 10, 2008 12:53 pm Post subject: Re: Another Record ($145.85) |
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| Niagara wrote: | | What just happened? Oil just spiked sharply higher by 5 bucks. |
Someone farted in the Middle East??  Seriously though, I think it could be a technical bounce of of the 200 DMA. Further up this page, some on here where talking about oil heading to 150 a barrel based on technical analysis---Something like 1.42 times the DMA of 105. |
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mcgowanjm
Tar Sands
Joined: May 23, 2008
Posts: 63
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| Posted: Thu Jul 10, 2008 12:59 pm Post subject: Re: Another Record ($145.85) |
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| Forney2008 wrote: | | Niagara wrote: | | What just happened? Oil just spiked sharply higher by 5 bucks. |
Someone farted in the Middle East?? Seriously though, I think it could be a technical bounce of of the 200 DMA. Further up this page, some on here where talking about oil heading to 150 a barrel based on technical analysis---Something like 1.42 times the DMA of 105. |
From TOD: mcgowanmc on July 7, 2008 - 11:32am
The shakeout happens on Monday.
Tuesday afternoon inventory gets talked about.
Wed inventory two of the five categories miss.
Oil drops in the AM, rallys at the close.
Thursday rally sets record. Friday holds gains.
Rinse. Wash. Repeat.
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Update: $141.70 Thurs Jly 10, 2008 |
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mcgowanjm
Tar Sands
Joined: May 23, 2008
Posts: 63
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| Posted: Thu Jul 10, 2008 1:02 pm Post subject: Re: Another Record ($145.85) |
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| mcgowanjm wrote: | | Forney2008 wrote: | | Niagara wrote: | | What just happened? Oil just spiked sharply higher by 5 bucks. |
Someone farted in the Middle East?? Seriously though, I think it could be a technical bounce of of the 200 DMA. Further up this page, some on here where talking about oil heading to 150 a barrel based on technical analysis---Something like 1.42 times the DMA of 105. |
From TOD:mcgowanmc on July 7, 2008 - 11:32am
The shakeout happens on Monday.
Tuesday afternoon inventory gets talked about.
Wed inventory two of the five categories miss.
Oil drops in the AM, rallys at the close.
Thursday rally sets record. Friday holds gains.
Rinse. Wash. Repeat.
Update: $141.70 Thurs Jly 10, 2008 |
Why'd it happen? The PPT took off it's positions. And/or someone's on the wrong side. And/or needed
immediate funds.
Lehman? LEHMAN BROS HLD (NYSE: LEH) NEW Real-time: 16.06 Down 3.68(18.64%) |
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Niagara
Intermediate Crude
Joined: Aug 17, 2006
Posts: 546
Location: Mt. Hubbert Scenic Lookout
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| Posted: Thu Jul 10, 2008 1:06 pm Post subject: Re: Another Record ($145.85) |
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It wasn't just a typical late day rally near the close.
At precisely 2:25pm there was a HUGE spike in volume and the price jumped very sharply. |
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Sketh
Tar Sands
Joined: Jul 02, 2005
Posts: 60
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| Posted: Thu Jul 10, 2008 1:11 pm Post subject: Re: Another Record ($145.85) |
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Iran has test-fired another missile.
Nigerian cease-fire ending.
Petrobas workers threatening strike.
Take your pick (most newswires saying it's Iran).
Day's high is $142.10. Now a buck lower. |
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Zardoz
Expert
Joined: Dec 02, 2005
Posts: 6786
Location: Oil-addicted Southern Californucopia
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| Posted: Thu Jul 10, 2008 1:46 pm Post subject: Re: Another Record ($145.85) |
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Everything's rebounding right back up to nearly where it was: Crude, heating oil, and RBOB gasoline. Somebody's made some money in the past couple of days...
_________________
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen |
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idiom
Intermediate Crude
Joined: Aug 23, 2004
Posts: 574
Location: New Zealand
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| Posted: Thu Jul 10, 2008 2:22 pm Post subject: Re: Another Record ($145.85) |
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Still waiting for the headline:
"CNN FIRES OIL ANALYSTS, HIRES WEATHERMEN INSTEAD" |
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mcgowanjm
Tar Sands
Joined: May 23, 2008
Posts: 63
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| Posted: Thu Jul 10, 2008 7:44 pm Post subject: Re: Another Record ($145.85) |
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| Niagara wrote: | | It wasn't just a typical late day rally near the close. At precisely 2:25pm there was a HUGE spike in volume and the price jumped very sharply. |
And it's holding. Someone's getting a margin call. |
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smallpoxgirl
Moderator
Joined: Nov 08, 2004
Posts: 6477
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| Posted: Thu Jul 10, 2008 8:35 pm Post subject: Re: Another Record ($145.85) |
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| Niagara wrote: | | It wasn't just a typical late day rally near the close. At precisely 2:25pm there was a HUGE spike in volume and the price jumped very sharply. |
Ohh come on man. Everybody and their brother knew this was the day for it to head back north. The last time it hit that same support line was June 5. Look what happened there. Obviously this thing was gonna rocket up once it started to move. Everybody was just waiting for confirmation that it was really happening. Then the mechanical trading system for one of the big players hits it's trigger, dumps a big buy order into the system, and it's off to the races.
_________________
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1302
Location: Singapore
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godq3
Coal
Joined: May 23, 2008
Posts: 4
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| Posted: Fri Jul 11, 2008 2:53 am Post subject: Re: Another Record ($145.85) |
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143.98$. New record today?  |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1302
Location: Singapore
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| Posted: Fri Jul 11, 2008 3:08 am Post subject: Re: Another Record ($145.85) |
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Welcome back to $144 oil.
... go go go !!!
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Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1302
Location: Singapore
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| Posted: Fri Jul 11, 2008 3:32 am Post subject: Re: Another Record ($145.85) |
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... would it help if we start shouting :
$150 !!! $150 !!! $150 !!! ... 
_________________
Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes |
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