Post Reply
201-220 of 303
spc .
lookcc ( Date: 09-Sep-2008 22:49) Posted:
|
px now just below 104/b...4.00 can get tis wk???
Oil ps is down to al ow of $101.++ B4 recover to $106/-
Commodities News
Oil prices fall ahead of OPEC 9:07am: Crude futures decline ahead of the cartel meeting in Vienna and as Hurricane Ike is downgraded to a Category 1 storm. More
Oil flat as mortgage rescue boosts dollar
Investors also worry about slumping global demand ahead of the OPEC meeting and eye Hurricane Ike's threat to Gulf of Mexico production.
teeth53 ( Date: 02-Sep-2008 21:34) Posted:
| ||||||||
9:07am: Gustav hit with less force than initially feared, but market watchers wait to assess exactly how much damage was done to oil production rigs, refineries. more
teeth53 ( Date: 16-Aug-2008 12:36) Posted:
| ||||||
hi,
i meant to say the US markets/USD will rally for november. After the election, global markets are likely to be down. look at all the bad news coming out of europe and asia/japan. Key data to watch this week are the Euro zone numbers for Zew and PMI. US PPI and building permits on tues, bernanke speaks on fri: this is likely to send the USD up, hence DJIA up.
I have no clue between now and then, though. there has to be a slight down somewhere for them.
Note: i don't believe the STI will follow the DJIA up, however. I think the STI has a greater chance of hitting 2,680 than 3,000 in the coming weeks. Global money is basically net out of Asia, out of long commods, into Dollar, short commods.--> a major supporting of the US for its economy. Any rise of the STi is going to be hit back by stale bulls rushing to get out; which means we'll likely ping up and down in a narrow range til all the stale bulls are out. What will spur the DJIA to 12,500 is if oil breaches 110 and stays there (ie, gold is going down below the 782.5 support.)
Oil may rise after the beijing olympics though: for the main reason that China stopped half its factories for the ollies, and so, their consumption is likely to pick up post-olly. haha.
It's as clear as mud. Either go long term (slow and DCA) or intraday.
Hi, do you means to say after election , so will be the rally???so it is good to buy now..for play coming.
Note that the major player for oil is Goldman Sachs.
Goldman Sachs, after calling for oil at 170-200 in their reports, instead reversed their calls and went short on oil from its peak of US$147. They shorted oil from 140s-130s.
They've majorly bought the dollar instead, after issuing sell calls for it publicly.
Which is why, follow their walk, not their talk.
So what do the charts say:
support for euro/USD is at 1.4417, currently 1.4680. Oil is at 113. So i'd peg the support for oil at 105.
Whatever it is, the picture is down for oil and consequently, gold, til end nov at least.
Because the market never goes down in the year of a US election.
So personally, i'm expecting DJIA 12,500, oil 105. The DJIA can be propped up using forex and commodities; since it's a race to the bottom for the global currencies and markets now. At abt the time of the US election is their rally. The question is gold. The other question is, between now and then, what?
I hv the same feeling...end of the year. I am accumulating quality oil play counters, needless to say, SPC is one of them. Cheers!
Livermore ( Date: 16-Aug-2008 12:51) Posted:
|
I am expecting oil price to climb back up around Nov/Dec
After trading up in oil trading price to $117/-....Oil fall again. http://news.asiaone.com/News/Latest%2BNews/Business/Story/A1Story20080816-82604.html
|
NEW YORK - WORLD crude oil prices slid again on Friday as the Opec crude producers' cartel lowered its forecast for oil demand growth, citing the weak global economy. New York's main oil futures contract, light sweet crude for September delivery, closed down US$1.24(S$1.76) at US$113.77 a barrel. In London, Brent North Sea crude for October delivery dropped US$1.13 to settle at US$112.55 a barrel. The September contract had expired at US$112.64 on Thursday. 'The softening economic situation has led to a further slowdown in oil demand growth', the Organisation of the Petroleum Exporting Countries (Opec) said in its latest monthly forecast on Friday. Opec, which produces about 40 per cent of the world's oil, revised its global oil demand growth forecast for 2008 down to 1.17 per cent from 1.20 per cent in July. The cartel also kept its 2009 forecast for oil demand growth unchanged at 1.03 per cent, according Opec's latest report. |
||
sporeguy, what fibonacci retracement softtware is that? is it available on the trading platform? don't mind ask
Sporeguy ( Date: 10-Aug-2008 20:22) Posted:
|
Oil falls on signs of weakening demand: http://money.cnn.com/2008/08/12/markets/oil.ap/index.htm?postversion=2008081204
Crude prices tumble to $113 a barrel as dollar strengthens, demand worries persist.
teeth53 ( Date: 10-Aug-2008 20:09) Posted:
|
may see 110 this week, once the exploded pipeline repaired. tks for the Olympics which buffered most of the global tensions, at least within the 17 days of sport bash among the 204 countries.
Must watch how the Georgean scene developes too... 
Copy from SPC tread, more apt to be here.
CO has risen from $25 to $147. So using the most optimistics of Fibonacci retracement of 38.2%, it will support at $100. In between there will be an a-b-c wavelet. b wave may move from $121 to $130 (resistance) before dropping to $100. CO is a case of depleting resource, so I don't think it will drop to half the price of $70+ according to the Chinese Newspaper. Then I would expect the waves 1 to 5 to end at $176.
(CNNMoney.com) -- Oil prices tumbled a 3-month low near $115 a barrel Friday as the dollar rallied strongly against slumping foreign currencies.
Light, sweet crude for September delivery settled down $4.82 to $115.20 on the New York Mercantile Exchange. It was the lowest close since May 1, when oil finished at $112.52.
For more info: http://money.cnn.com/2008/08/08/markets/oil/index.htm?postversion=2008080815
so is this...Straits Times Wed Aug 6, 2008. Commodities Bust-up yesterday...
(Today push-up, take profit as STI is following a strong rally in DOW).
Golden Agri-Resources........loss 9.7% to $0.605ct
Straits Asia.......................... loss 6.2% to $2.43ct
Noble Group........................loss 5.7% to $1.99ct
Wilmat International..............loss 4.3% to $4.05ct (expect a initial 5% gain)
trader88.sg ( Date: 06-Aug-2008 08:07) Posted:
|
Today STI all green. DOW up "Sum sum Yit - +331 pts"
trader88.sg ( Date: 06-Aug-2008 08:07) Posted:
|
CO down = good for economy
But CO down = oil related companies down = Dow down?