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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1302
Location: Singapore
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 Posted: Wed Apr 16, 2008 10:28 am Post subject: Re: Another Record ($114.53) |
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$114.95
We're well into the potential $110-120 trading range.
Will it punch through $120 resistance?
Will it pull back?
Stay tuned for the next exciting episode of "NYMEX Sessions".
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frankthetank
Fusion
Joined: Sep 16, 2004
Posts: 4925
Location: Southwest WI
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| Posted: Wed Apr 16, 2008 10:31 am Post subject: Re: Another Record ($114.53) |
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Hold on your to weiner boys. This could get bumpy. I'm getting engorged just watching these 3 digit numbers climb  !!1
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Clothing should be optional. |
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PeakingAroundtheCorner
Heavy Crude
Joined: Apr 08, 2007
Posts: 488
Location: Cleburne, TX, USA
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| Posted: Wed Apr 16, 2008 10:55 am Post subject: Re: Another Record ($114.53) |
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Down a buck and change!
WTF??? |
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idomar
Heavy Crude
Joined: Mar 20, 2007
Posts: 174
Location: There is no hope for the future
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| Posted: Wed Apr 16, 2008 10:56 am Post subject: Re: Another Record ($114.53) |
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is there any reason for the $2 down tick from the high?
Did someone open the SPR? find a huge deposit somewhere? ban all cars from the road? |
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PeakingAroundtheCorner
Heavy Crude
Joined: Apr 08, 2007
Posts: 488
Location: Cleburne, TX, USA
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| Posted: Wed Apr 16, 2008 11:12 am Post subject: Re: Another Record ($114.53) |
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| idomar wrote: | is there any reason for the $2 down tick from the high?
Did someone open the SPR? find a huge deposit somewhere? ban all cars from the road? |
Right? This is making me look like a fool on another board. It's bad enough we have a new peak, which is making us all look like crackpots. |
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Gandalf_the_White
Intermediate Crude
Joined: Nov 21, 2007
Posts: 511
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| Posted: Wed Apr 16, 2008 11:13 am Post subject: Re: Another Record ($114.53) |
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You guys are worrying about nothing. The pressure is upwards, $120 by Memorial Day, I might even go $130 in a crazy spike that will frighten everyone.
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gnm
Expert
Joined: Jul 08, 2004
Posts: 2737
Location: plundering eco-villages
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| Posted: Wed Apr 16, 2008 11:15 am Post subject: Re: Another Record ($114.53) |
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| Gandalf_the_White wrote: | | You guys are worrying about nothing. The pressure is upwards, $120 by Memorial Day, I might even go $130 in a crazy spike that will frighten everyone. |
THATS what I'm worried about! 
-G
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I Have and will continue to vote against ANY politician who supports the various bailouts. Curse you for selling out our future for status quo now! |
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emersonbiggins
Moderator
Joined: Jul 10, 2005
Posts: 5194
Location: Dallas
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| Posted: Wed Apr 16, 2008 11:17 am Post subject: Re: Another Record ($114.53) |
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| PeakingAroundtheCorner wrote: | | idomar wrote: | is there any reason for the $2 down tick from the high?
Did someone open the SPR? find a huge deposit somewhere? ban all cars from the road? |
Right? This is making me look like a fool on another board. It's bad enough we have a new peak, which is making us all look like crackpots. |
Was it a real peak, or just OPEC releasing its stockpiles? I couldn't find a real straight answer for that.
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smallpoxgirl
Moderator
Joined: Nov 08, 2004
Posts: 6470
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| Posted: Wed Apr 16, 2008 11:23 am Post subject: Re: Another Record ($114.53) |
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| PeakingAroundtheCorner wrote: | | Right? This is making me look like a fool on another board. It's bad enough we have a new peak, which is making us all look like crackpots. |
Yeah. For the first year or so I was on this site, I worried it was all BS. Back then oil was $40 a barrel. I stopped worrying a while ago. Be patient. Commodities fluctuate up and down in the short term. In the long term, it's going no where but up.
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"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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dunewalker
Intermediate Crude
Joined: Jun 30, 2005
Posts: 768
Location: northern California
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| Posted: Wed Apr 16, 2008 11:33 am Post subject: Re: Another Record ($114.53) |
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Now they're practically giving the stuff away! It's "down" in the $112 range. So easily we become jaded with "extremes"!
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nth
Light Sweet Crude
Joined: Feb 24, 2005
Posts: 1976
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| Posted: Wed Apr 16, 2008 11:36 am Post subject: Re: Another Record ($114.53) |
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| The whole idea that this is speculator driven is bs when you actually have oil refineries paying high prices to buy real oil. Real oil deliveries are still going up. This bull has legs. |
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idomar
Heavy Crude
Joined: Mar 20, 2007
Posts: 174
Location: There is no hope for the future
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| Posted: Wed Apr 16, 2008 12:01 pm Post subject: Re: Another Record ($114.53) |
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| smallpoxgirl wrote: | | Yeah. For the first year or so I was on this site, I worried it was all BS. Back then oil was $40 a barrel. I stopped worrying a while ago. Be patient. Commodities fluctuate up and down in the short term. In the long term, it's going no where but up. |
I have watched this dog and pony show for a while now and I think I understand the principles of supply and demand, but when there are days like this, where there is a draw and the price goes down i think i should just throw out my old economics textbooks and write my own.
'The laws of supply and demand state that: If the availabilty of a item becomes more scarce, then the price will increase until equilibrium is restored or the price will go down, it all depends, make up your own mind, stop bugging me, what do I know' |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1302
Location: Singapore
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| Posted: Wed Apr 16, 2008 12:05 pm Post subject: Re: Another Record ($114.53) |
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Now what's all this panicking about?
$112 too low for the crowd here?
livequotes shows us on a nice recovery back up above $113.60 again!
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smallpoxgirl
Moderator
Joined: Nov 08, 2004
Posts: 6470
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| Posted: Wed Apr 16, 2008 12:11 pm Post subject: Re: Another Record ($114.53) |
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| idomar wrote: | | 'The laws of supply and demand state that: If the availabilty of a item becomes more scarce, then the price will increase until equilibrium is restored |
It will. The supply and demand of oil vary over months and years. On that time scale, economics governs the trends. The short term is more aptly predicted by chaos theory. A two percent drop means nothing.
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"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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| Posted: Wed Apr 16, 2008 12:12 pm Post subject: Re: Another Record ($114.53) |
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Euro's making a break for 1.60.
A break-out above that and $120 oil here we come.
Meanwhile USDX has broken down from its consolidation pattern at 72 on its way to 70. Look out below!
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