4 replies to this topic

[A-ha]

after dancing along the channel bottom for a few weeks (see the 10 year weekly chart i posted a while ago), it finally poked through it and ran the stops... If you remember this is what I expected to happen. a classic pattern in commodities ... I am now expecting a reversal... at least for a swing move up to 64-66 I will cover rest of my short positions in oil services sector tomorrow or today before the close... will post when i do. And this has nothing to do with el nino which is blamed in media and other noise sources... crude will eventually break below that channel and there is only one reason to it: RECESSION Like I said, when it runs its course, Nasdaq and Crude will start trading in the same direction. But that will be the ugly times , we probably have a few more weeks to that

Edited by xD&Cox, 03 January 2007 - 01:03 PM.

[vitaminm]

USO

http://finance.yahoo...il oi...0&a=&c=

[slatedrake]

I am now expecting a reversal... at least for a swing move up to 64-66

A swing up to 64/66 for USO specifically I assume?

Thanks,

Slate

[A-ha]

I am now expecting a reversal... at least for a swing move up to 64-66

A swing up to 64/66 for USO specifically I assume?

Thanks,

Slate

you heard me right crude oil to 64-66.. not USO.
I dont think USO sees 65 for a long time.

[vitaminm]

$WTIC/uso/oil

http://stockcharts.com/h-sc/ui?s=$WTI...id=p68681651464