8 replies to this topic

[A-ha]

Crude oil put some sort of a bottom ... as well as related sectors like xle and oih currently crude oil fully recovered and some and the volume is absolutely climactic. Also OIH fully recovered on gigantic volume... OIH currently made %130 average volume and it is only 1:20 ET volume will easily double from here.. if you check the price history of this sector, almost all major lows are printed like this...it is mainly because this sector is heavily institutional... doji days on giant volume or gap down and reversal type days on big volume like today.... in other words there will likely be upside follow through in coming days.

Edited by xD&Cox, 09 January 2007 - 01:24 PM.

[dcengr]

What about that second nail call? Sorta feels like a staple at the moment Did you load up on your spoos?

[jawndissedi]

xD is not alone on this one. GS has been fiddling with its indexes again, and this time, it looks like the smart money was waiting in the weeds, ready to pounce . . . Read here for details.

BTW, nice trade, xD.

[dcengr]

What about that second nail call? Sorta feels like a staple at the moment

Did you load up on your spoos?

Btw I was saying yesterday that NDX and AAPL are tied like umbilical cords. You cannot have NDX go down without AAPL, which is why I think AAPL must lead the way down, and I think it will.

[arbman]

xd, how do you expect a market crash and an oil bottom at the same time?!? Anyway, I am thinking the signing of the 30 yr contracts in Iraq by the multi-national oil companies is actually putting a lot of pressure on the local drillers since the oil prices will likely to stay within the lows of the range, if it works out that way... The oil drillers had a right translated cycle since the lows to the highs and the decline came of these news, so a strong bounce is still not out of the norm. - kisa

[Vector]

cool, that's good for the entire market then!!!

[Sentient Being]

Well, I've got an oil-gas positon so I hope you are right. but it took a hit today.

[arbman]

XD, the volume weighted averege price is around 130 now for the trailing 5 days, and today's intraday reversal below this level says there is some sort of institutional support now. It might definitely bounce somewhat higher...

[arbman]

I have now a cyclic pattern that suggests a bounce to $136 and then a decline to $113 on OIH... The time frame is over the next 6 wks, the bounce should take about 1.5-2 wks...