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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". _________________ Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes |
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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 _________________ 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. _________________ I return to you now at the turning of the tide. |
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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 _________________ 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. _________________ "It's called the American Dream because you'd have to be asleep to believe it."
George Carlin |
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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. _________________ "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"! _________________ "When men yield up the privilege of thinking, the last shadow of liberty quits the horizon."
Thomas Paine |
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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! _________________ Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes |
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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. _________________ "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! _________________ Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes |
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