I was looking for a secular top last summer.
The day I made this call was the end of the top doji July monthly.
My target was 40 from another post, still is, but may get a bounce in here first.
Fundamentals had zero bearing on that call.
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Oil
Started by
CLK
, Jan 20 2007 07:08 PM
3 replies to this topic
#1
Posted 20 January 2007 - 07:08 PM
#2
Posted 20 January 2007 - 08:54 PM
good call.
Looking back at the chart, the run up in oil basically mirrors the beginning of the bull all the way through unitl last year. Oil diverged but the bull keeps going.
Oil price seemed to be more of a coincident than a leading indicator. So with the oil price diverging now, I wonder if it means anything for the direction of the economy.
OTIS.
#3
Posted 20 January 2007 - 09:04 PM
A good (I guess) article from Market Watch.
Exec sum: Geo/weather risks diminished, adaquate supplies on hand.
Although not discussed in the article, I wonder if lower prices might become a reflection of shrinking demand, which would seem bearish.
Exec sum: Geo/weather risks diminished, adaquate supplies on hand.
Although not discussed in the article, I wonder if lower prices might become a reflection of shrinking demand, which would seem bearish.
Edited by selecto, 20 January 2007 - 09:06 PM.
#4
Posted 20 January 2007 - 09:34 PM
Don't now if I can help or confuse the situation. From a macro cycle point of view, an impotant low will be put in within 9 trading days of Monday, 1/22. I got a short term buy on Thursday and went long DBE @ 25.90. My intermediate cycle remains on a sell. Mike
Lead, Follow or Get Out of the Way...
Be Sure to Perform Your Own Due Diligence
Be Sure to Perform Your Own Due Diligence