But I thought you might like to know that the WSJ also came to the same conclusions we already had.
Who said the media will never get PO?
Quote:
Crude Leaps Nearly $11, In Fresh Hit to Economy
By NEIL KING JR.
June 7, 2008
At the same time, oil analysts say there are fundamental forces keeping prices high. Despite soaring retail prices, the demand for diesel -- the lifeblood fuel of the world economy -- continues to rise as consumers in places like China and Chile turn to generators to fill in for failing electricity grids.
The investment bank Morgan Stanley is predicting that prices will top $150 a barrel as the U.S. market -- which consumes nearly a quarter of the world's daily output -- confronts tightening supplies of crude. Oil stockpiles in the U.S. have fallen far below the five-year average, a report from the bank points out.
One factor leading to a crimped U.S. market: Persian Gulf suppliers are shipping increased quantities to fast-growing Asia, at a time when exports are falling sharply from two of America's largest suppliers, Mexico and Venezuela.
WSJ _________________ It's already over, now it's just a matter of adjusting.
Posted: Fri Jun 06, 2008 6:46 pm Post subject: Re: Another Record ($139.01) +ZOMG!+
chuck6877 wrote:
Damn, I'm eating some crow!!! I was WRONG.
I knew fundamentals were bullish but I thought we'd for sure have a larger pullback than $13.00!
One technical note:
When WTIC went to $135.09 it reached the highest above the 200 day moving average it had for this bull market as it went to 1.422 times the 200 dma
So what you're saying is that technical trading works... except when it doesn't??
Posted: Fri Jun 06, 2008 6:55 pm Post subject: Re: Another Record ($139.16)
MacG wrote:
Zardoz wrote:
It's all random. That's the scariest scenario of all, isn't it? That's what conspiracy theorists can't handle. That's what they're really afraid of.
I share this view. Everything I've seen and learned support it. It's beyond human capabilities to understand today's world.
Yes, there is a lot of secret manipulation by various powerful actors which have physical consequences, but the consequences are mainly unintentional. They don't understand the world they are manipulating.
+1. A belief that the men in the black helicopters/the Illuminati/the Rothschilds/whoever are running the world is akin to belief in the monster under the bed.
Posted: Fri Jun 06, 2008 7:04 pm Post subject: Re: Another Record ($139.01) +ZOMG!+
darren wrote:
So what you're saying is that technical trading works... except when it doesn't??
Worked fine for me. Inverted hammer, below 20d moving average, in an uptrend, followed next day by trading above the real body of the hammer->buy signal. Doesn't usually work out that nicely, but the signals were there. _________________ "So while you sit and whistle Dixie with your money and your power.
I can hear the flowers a-growin in the rubble of the towers.
I hear leaders quit their lying
I hear babies quit their crying.
I hear soldiers quit their dying, one and all." - OCMS
Posted: Fri Jun 06, 2008 7:15 pm Post subject: Re: Another Record ($139.16)
darren wrote:
+1. A belief that the men in the black helicopters/the Illuminati/the Rothschilds/whoever are running the world is akin to belief in the monster under the bed.
I agree as well. I think it's easier for people to accept conspiracies than it is for them to accept that the universe has no particular agenda and isn't conscious to work for or against us. As long as you have an enemy, you have an explanation.
The fact that there are as many opinions about what is happening as there are people is proof enough that no one person fully understands all the details. People get caught up in reviling or idolizing figures like Ben Bernanke or the White House, convinced that those entities really do have control over the economy and are going to destroy them or save them.
We have been so brainwashed by our societies that we really do believe that our way of life is normal and sustainable. It isn't -- what goes up must come down.
Joined: Apr 13, 2005 Posts: 3028 Location: St.Louis, Mo
Posted: Fri Jun 06, 2008 7:26 pm Post subject: Re: Another Record ($139.16)
darren wrote:
MacG wrote:
Zardoz wrote:
It's all random. That's the scariest scenario of all, isn't it? That's what conspiracy theorists can't handle. That's what they're really afraid of.
I share this view. Everything I've seen and learned support it. It's beyond human capabilities to understand today's world.
Yes, there is a lot of secret manipulation by various powerful actors which have physical consequences, but the consequences are mainly unintentional. They don't understand the world they are manipulating.
+1. A belief that the men in the black helicopters/the Illuminati/the Rothschilds/whoever are running the world is akin to belief in the monster under the bed.
You don't believe the central bankers control things ? Try this one.
Posted: Fri Jun 06, 2008 8:42 pm Post subject: Re: Another Record ($139.01) +ZOMG!+
smallpoxgirl wrote:
darren wrote:
So what you're saying is that technical trading works... except when it doesn't??
Worked fine for me. Inverted hammer, below 20d moving average, in an uptrend, followed next day by trading above the real body of the hammer->buy signal. Doesn't usually work out that nicely, but the signals were there.
I wish you'd have told me smallpoxgirl
I've subscribed to a couple guys for the last few years and read a ton of stuff, and I just know some basic things. I'm definitely an amateur that knows enough to go lose some money!!
Smallpoxgirl, what do you think will happen next?
Adam Hamilton is real big about the % above the 200dma and how it repeats itself.
I think 1.42 X the 200 dma may be a moving top for a while. We'll have to watch......
Did you notice that the oil stocks went down today?! They're correcting back to the 200dma, and it looks like nothing is stopping them(not even an $11.00 rise in the price of oil!).
Posted: Fri Jun 06, 2008 9:56 pm Post subject: Re: Another Record ($139.16)
.
I predicted a hight of 169$ this year , but Friday rise came as a big surprise , I thought there would be a stabilization at 120 ~130.
now it looks like 150 is there for the taking
one doesn't know anymore if it's crude price going north or the US $ going south .... or how much of either !
Posted: Sat Jun 07, 2008 12:24 am Post subject: Re: Another Record ($139.16)
The dollar's down a percent, so supposedly most of the increase is do to hedging against possible military action in the ME, specifically Iran.
Quote:
Over the past two days, crude oil has leapt about 16 dollars as the market reacted to a new decline in the dollar after the European Central Bank signaled an interest rate hike Thursday and the US reported a sharp rise in unemployment Friday.
Compounding the dollar squeeze were remarks by Israeli Deputy Prime Minister Shaul Mofaz reported Friday by the Yediot Aharonot newspaper, analysts said.
"If Iran continues its nuclear weapons program, we will attack it," Mofaz told the daily, stressing that such an operation could only be conducted with US support.
"Other options are disappearing. The sanctions are not effective. There will be no alternative but to attack Iran in order to stop the Iranian nuclear program," Mofaz, who is also transportation minister, said.
Yes, and tell me Bush looks and sounds like a man who isn't feeling guilty. Something is up.
Whatever's up, one thing's for sure; there's little coming out of his mouth that isn't 'bread & circuses'... _________________ "It means buckle your seatbelt, Dorothy, because Kansas? Is goin' bye-bye... "
Posted: Sat Jun 07, 2008 5:16 am Post subject: Re: Another Record ($139.16)
emersonbiggins wrote:
98,000 acres in Paraguay and satellite phones = autonomy, if you can get it.
The Rockerfellers and Rothchilds of the world won't be intermingling in the town square for the leftover crumbs.
Sat phones don't grow on trees either, not even in Paraguay. It takes major engineering to get that stuff working. Analphabet hut-dwellers cant get satellites launched however much you whip them.
The system which feed the Rockefeller's and the Rothschild's can only do two or three things:
1) Force people to manufacture more and more stuff in order to borrow more and more money in order to keep interest payments flowing.
2) When the earth is exhausted the system can inflate the money supply for a short while in order to keep interest payments flowing.
Sooner or later their money will become worthless, and if they don't intermingle in the town square they will probably starve or freeze to death.
Posted: Sat Jun 07, 2008 6:26 am Post subject: Re: Another Record ($139.16)
Tell me technical analysis isn't working on the US dollar trade!
LOOK HERE at the Dollar hitting the 100 day moving average which is the red line which represents the 20 week moving average. This has held for the last year and a half!:
That 100 day moving average is a freekin' wall for the dollar...
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