I don’t know about oil holding on much longer, as Cushing is nearly full…if they can’t take delivery, they have to sell contracts…now, OPEC shipments are down due to high price (no demand)… the only way out for oil traders not to lose money is to kill Saudi supply before OpEx…4/11/11…those pesky terrorists may show up again…
I think she’s about to breakdown now gang! We are very near the apex of the triangle that formed today. Not much longer before a move up or down will happen. I think it will be down…
I think we are getting close to a bottom for the day BK, so you probably didn’t miss out on much. We could dip one more time, but the 5 and 15 minute charts will turn back up shortly and we should back up into the close.
How much is another story? Maybe we stay range bound for the rest of day, or maybe they push through the resistance into the close? Of course we could also rollover into the close if the 60 minute chart gets overbought… but I really doubt it at this point. It’s been in oversold territory all week, and it’s likely time to go positive.
I’d be shocked if we take out the low from yesterday, as it seems too me that nothing has been able to tank the market. I don’t know what will at this point, but they seem to want to hold it up for now.
Agreed… there doesn’t seem too be very many bears left to squeeze. Maybe they will tank it into the close? It’s just too hard to figure out when we are still stuck in this range bound area.
I sort of disagree with the notion that the smartest move for market makers is to make a new high to take out bear stops (first). Wouldn’t it be better to flush some bulls out with a drop and then take out the bulls and bears up to new highs? We’ll see their plan shortly.
Could be a huge short squeeze if there’s some dumb government plan to fix the budget issues. But if they can’t reach a deal, look out below.
The question is, with the bearish % at 15%, how many bears are there to squeeze?
Meaning you think oil will sell off some, or rally higher?
Interesting…
http://www.space.com/11310-huge-asteroid-2005-yu55-passing-earth-november.html
I don’t know about oil holding on much longer, as Cushing is nearly full…if they can’t take delivery, they have to sell contracts…now, OPEC shipments are down due to high price (no demand)… the only way out for oil traders not to lose money is to kill Saudi supply before OpEx…4/11/11…those pesky terrorists may show up again…
I think she’s about to breakdown now gang! We are very near the apex of the triangle that formed today. Not much longer before a move up or down will happen. I think it will be down…
New intraday FP of 132.5333! I think we are going down some more today!
I think we are getting close to a bottom for the day BK, so you probably didn’t miss out on much. We could dip one more time, but the 5 and 15 minute charts will turn back up shortly and we should back up into the close.
How much is another story? Maybe we stay range bound for the rest of day, or maybe they push through the resistance into the close? Of course we could also rollover into the close if the 60 minute chart gets overbought… but I really doubt it at this point. It’s been in oversold territory all week, and it’s likely time to go positive.
I’d be shocked if we take out the low from yesterday, as it seems too me that nothing has been able to tank the market. I don’t know what will at this point, but they seem to want to hold it up for now.
Agreed… there doesn’t seem too be very many bears left to squeeze. Maybe they will tank it into the close? It’s just too hard to figure out when we are still stuck in this range bound area.
OMG….. I cover a little too early lol
I sort of disagree with the notion that the smartest move for market makers is to make a new high to take out bear stops (first). Wouldn’t it be better to flush some bulls out with a drop and then take out the bulls and bears up to new highs? We’ll see their plan shortly.
Could be a huge short squeeze if there’s some dumb government plan to fix the budget issues. But if they can’t reach a deal, look out below.
The question is, with the bearish % at 15%, how many bears are there to squeeze?
I’m not sure it matters Richie… as it looks like the gangsters still have plenty of money to keep this market artificially up.