Jump to content



Photo

XLE tagged 54...as predicted


  • Please log in to reply
7 replies to this topic

#1 Rogerdodger

Rogerdodger

    Member

  • TT Member*
  • 26,863 posts

Posted 12 January 2007 - 12:04 AM

'Everybody' knows $50 oil is in the cards but as I observed Tuesday, XLE loves to touch $54 and reverse.
It touched today. I'm watching for a bounce here... and then maybe $50 oil.

http://stockcharts.c...52423&r=382.png

Edited by Rogerdodger, 12 January 2007 - 12:10 AM.


#2 dcengr

dcengr

    Member

  • Traders-Talk User
  • 13,391 posts

Posted 12 January 2007 - 12:23 AM

Same dumb asses coming out of oil going into techs...

You know this will end badly once tech starts its slide.

Posted Image

Edited by dcengr, 12 January 2007 - 12:24 AM.

Qui custodiet ipsos custodes?

#3 jmicou

jmicou

    Member

  • Traders-Talk User
  • 2,749 posts

Posted 12 January 2007 - 12:49 AM

Average the past several declines, a target (even if intraday) could be around 52.25. In otherwords, it should be near at least a bounce area in the offing. Of course, this time could be different. regards, jmicou

#4 vitaminm

vitaminm

    Member

  • Traders-Talk User
  • 6,701 posts

Posted 12 January 2007 - 12:56 AM

XLE/won't bounce till PSAR buy

http://finance.yahoo...LE&t=...0&a=&c=
vitaminm

#5 Rogerdodger

Rogerdodger

    Member

  • TT Member*
  • 26,863 posts

Posted 12 January 2007 - 10:06 PM

+2.55% is a bounce. Should get a little more.
I heard some speculation about more hedge funds being caught with long positions.
Possibly another Amaranth out there?
If so it could cause some panic selling before a bottom is put in.


#6 jmicou

jmicou

    Member

  • Traders-Talk User
  • 2,749 posts

Posted 13 January 2007 - 10:16 AM

These numbers were the ones referenced. Found the symmetry of use. Crude, but interesting. (pun intended)

Posted Image


#7 Rogerdodger

Rogerdodger

    Member

  • TT Member*
  • 26,863 posts

Posted 13 January 2007 - 06:44 PM

I would not be surprised to see that $52 area after this bounce. That might be when we see the whole market change direction.

#8 jmicou

jmicou

    Member

  • Traders-Talk User
  • 2,749 posts

Posted 13 January 2007 - 07:34 PM

I would not be surprised to see that $52 area after this bounce.

That might be when we see the whole market change direction.


The $54 area percentage wise is in the ballpark. Maybe it won't hit the $52 area....
Posted Image


I would not be surprised to see that $52 area after this bounce.

That might be when we see the whole market change direction.


The $54 area percentage wise is in the ballpark. Maybe it won't hit the $52 area....
Posted Image


Credit to Decision Point for the chart.

regards,
jmicou