Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Joined: Apr 16, 2008 Posts: 121 Location: Western PA, USA
Posted: Mon Aug 11, 2008 6:22 pm Post subject: Re: Another Record ($147.27)
You know, like when Goldman Sacs dumped a bunch of gasoline future contracts just before the 2006 midterm election, and gas magically plunged from late September to Election Day, only to reverse course shortly thereafter. Funny, many voters saw that scheme as B.S and were not fooled by it as the Republicans got tossed out of their majority in both houses. Voters may be stupid, but not retarded.
Now this might not be happening now, but it is worth considering. I am guessing TPTB could only have it work for a short time, as supply/demand inbalances would eventually force oil/gasoline back up toward its true value.
Posted: Wed Aug 13, 2008 4:00 am Post subject: Re: Another Record ($147.27)
Instead of looking for "yet another record", one could say we're now looking for "yet another local minimum". It has been one heck of a correction since $147.27.
Was $112.31 "it"?
Or are we destined to hit the next support level of $100?
Posted: Wed Aug 13, 2008 10:52 pm Post subject: Re: Another Record ($147.27)
Thought you guys would find this interesting.
The correction in gasoline prices may be over. Look at the chart below. The NYMEX unleaded gas price for months was bouncing up and down on the 50 day moving average until this recent pullback. The price just hit the 200 day moving average. Prices may start rising again.....
Is the correction in oil over? Probably not. We're just shy of the 200 day moving average. It's got to go there even if fundamentally it shouldn't!
Posted: Wed Aug 13, 2008 11:18 pm Post subject: Re: Another Record ($147.27)
Forney2008 wrote:
You know, like when Goldman Sacs dumped a bunch of gasoline future contracts just before the 2006 midterm election, and gas magically plunged from late September to Election Day, only to reverse course shortly thereafter. Funny, many voters saw that scheme as B.S and were not fooled by it as the Republicans got tossed out of their majority in both houses. Voters may be stupid, but not retarded.
Now this might not be happening now, but it is worth considering. I am guessing TPTB could only have it work for a short time, as supply/demand inbalances would eventually force oil/gasoline back up toward its true value.
Watch it, the doomer brigade is going to thump you for entertaining such a paranoid notion! Like, "I say, I say, that sounds like a tin foil hat conspiracy to me, Son, I say-- a tin foil hat consPERaaaaceeee!....(in your best Foghorn Leghorn voice)
Joined: Apr 05, 2005 Posts: 1658 Location: Springsteen Country (NJ)
Posted: Thu Aug 14, 2008 12:24 am Post subject: Re: Another Record ($147.27)
Um, if you look at the commitment of traders data for that period, it's quite apparent that the large speculators went severely short during that period, forcing the price of oil and gasoline down.
I'm getting sick of showing data that proves my position to people who just won't listen, but you can look it up yourself here.
By the way, if you're not a doomer, you just don't know what's going on here. Ever read "Overshoot" by Catton? _________________ 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
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Sun Aug 17, 2008 10:05 pm Post subject: Re: Another Record ($147.27)
Earlier this evening Peter Beutel, a well known oil price analyst, stated on Bloomberg that technical trends were more important than market fundementals. At the time oil was down slightly (near $113).
As we enter the 13th day of shutdown for the BTC pipeline (850,000 bpd, crossing Georgia and Turkey) with no word when it will be restarted, and with Azerbaijan halting oil exports, one wonders just how long we are to believe these analysts and disregard fundemental supply trends. Also on the demand side, for example, has it occurred to those predicting lower prices that 'demand destruction' will be reversed as prices fall - and therefore prices can not continue to go down? _________________ It's already over, now it's just a matter of adjusting.
Posted: Tue Aug 19, 2008 10:51 am Post subject: Re: Another Record ($147.27)
Wow. A sudden jump over 116.00 today. I wonder what has happened?
-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!
Posted: Tue Aug 19, 2008 1:48 pm Post subject: Re: Another Record ($147.27)
I think we may very well be at the bottom of the correction. The downward movement has petered out. The volume is dropping. The MACD is ticking up. We're right at the 200 day moving average, and it is clearly providing significant support. It looks like coal reversed itself a few days ago. I think we're at or very near the bottom of the energy bear correction. Natural gas is still dropping a bit, but oil and coal seem to be turning the corner. _________________ "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
Posted: Tue Aug 19, 2008 2:39 pm Post subject: Re: Another Record ($147.27)
THE OIL (crude oil) drops by 30% while gasoline NO
has no drops by 10% .... 20% of those who spread if the pappa ..????
the filastrocca is always the same when the crude oil salt 1 U.S. dollars after 3 hours to pump already takes place upside .... but otherwise no .....
and then say that there are control authorities and guarantee .... but what ?????
my idea is that the crude oil will fall abundantly under 100 U.S. dollars for 3 reasons:
1 INDUSTRIAL PRODUCTION so 'as to give gifts to companies to reduce costs in industrial production autumn
2 seeing the volumes produced under the maximum 147 I believe that hedge funds in commodity we piramidato SHORT good positions and then for them is FESTIVAL.
3 oil is low oxygen for financial markets and in this period as dire ce nor NEED then the excuse of financial rebound will be on the descent on oil
l 'OPEC should only be good and quiet them rich dish did so with the first 6 months of the year and then for them now as they say the rest is just FAT which is ......
Posted: Tue Aug 19, 2008 2:46 pm Post subject: Re: Another Record ($147.27)
DantesPeak wrote:
Earlier this evening Peter Beutel, a well known oil price analyst, stated on Bloomberg that technical trends were more important than market fundementals. At the time oil was down slightly (near $113).
As we enter the 13th day of shutdown for the BTC pipeline (850,000 bpd, crossing Georgia and Turkey) with no word when it will be restarted, and with Azerbaijan halting oil exports, one wonders just how long we are to believe these analysts and disregard fundemental supply trends. Also on the demand side, for example, has it occurred to those predicting lower prices that 'demand destruction' will be reversed as prices fall - and therefore prices can not continue to go down?
Demand destruction doesn't rest entirely on the price of the product, but the overriding health of the economy. The floor price will likely remain higher than historical norms, even factoring inflation into the mix.
Posted: Thu Aug 21, 2008 8:22 am Post subject: Re: Another Record ($147.27)
Gold has already broken through $800 resistance and is sitting nicely at $833. Time for oil to follow gold's lead and break $120 as well. _________________ Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes
Posted: Thu Aug 21, 2008 8:49 am Post subject: Re: Another Record ($147.27)
lowem wrote:
Gold has already broken through $800 resistance and is sitting nicely at $833. Time for oil to follow gold's lead and break $120 as well.
Ask and you shall recieve. $120.61. $120.89 Gold's up. Silver's up. Natural gas is up. Oil is up. Steel is up. Coal is up. I'm telling yall, the commodity correction is done. _________________ "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
Last edited by smallpoxgirl on Thu Aug 21, 2008 8:52 am; edited 1 time in total
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