6 replies to this topic

[eminimee]

I originally thought 85 would be the top....top may be in or one more high

Like to hear some thoughts..
I'm thinking a drop in oil may be temporarily good for stocks.....but a continued drop would be a negative.

Edited by Teaparty, 21 October 2007 - 12:16 PM.

[Russ]

Thanks Teaparty, I was thinking the same thing that if the market is going to rally out of the hole its digging right now, there is going to have to be a catalyst like dropping oil prices.

[relax]

can oil really drop without dollar going up and can market go up with dollar going up, or can market go down with dollar going down

[eminimee]

forget trying to put any correlation to dollar and stocks....



http://stockcharts.com/c-sc/sc?s=$USD&p=M&st=1980-01-01&i=p71167645816&a=112557640&r=3052.png

[Russ]

Where the US dollar is headed. It is hard to believe that it is going to recover after 2008 like it is showing but that is what it looks like. Would tie in with da cheif's view because the dow industrials cannot go to 20k if the us dollar turns into trash.

[selecto]

I've been following oil closely, and was long of it until Thursday.

BB theory holds that the leg is not "done" until the flare away of the opposite band is done.
As the mo is zoned, this could very well happen tomorrow. Doesn't necessarily mean a reversal.
Could consolidate and go again.

But, There is so much going on with oil, that I perceive no reason to trade it for the downside.
There must be a few better shorts out there,

I really hate news, but with oil it seems important.

This bit of news does not suggest appreciably lower prices in here.


http://stockcharts.com/c-sc/sc?s=$WTIC&p=D&yr=0&mn=4&dy=0&i=p86268604160&r=82.png

Edited by selecto, 21 October 2007 - 01:27 PM.

[Drano]

At what point does a higher price for oil become a negative for major oil companies? In other words, do they have contracts to supply at certain prices, which will then leave them underwater if prices for crude get over certain levels?