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PohPoh
 

Registered: May 2005
Posts: 1909

 

10-20-06 03:11 PM

They cut production and the market just DOES NOT CARE..
Looks like we will be taking a big dump here over the next few weeks...
$52 crude...

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Riskmanager
 

Registered: Nov 2002
Posts: 557

 

10-20-06 07:05 PM


Quote from PohPoh:

They cut production and the market just DOES NOT CARE..
Looks like we will be taking a big dump here over the next few weeks...
$52 crude...



"Trade what you see, not what you wish"

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AKUMATOTENSHI
 

Registered: Jul 2006
Posts: 375

 

10-20-06 07:19 PM

+1, Looking for Captain Obvious!

Akuma

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DeepFried
 

Registered: Oct 2005
Posts: 803

 

10-20-06 07:30 PM


Quote from Riskmanager:

"Trade what you see, not what you wish"



He's not wishing, he's just making an observation. If OPEC had the power it once did, oil would have been up strong today instead of off another buck or two. Obviously, that has implications for several different markets.

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artis74
 

Registered: Dec 2004
Posts: 207

 

10-20-06 07:39 PM

or traders who realy look at the numbers know that when opec cuts or raises they still over produce by roughly 1.5 million barrels a day.

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PohPoh
 

Registered: May 2005
Posts: 1909

 

10-20-06 07:44 PM

It's all about sentiment.
People have forgotten about peak oil, supply disruptions, hurricanes...
A bullish piece of info like OPEC comes out, and the market doesn't care..
THAT, my friends, is BEARISH, and was my reason for saying we would see a resumption of the bearish trend.
For how long?? Who the hell knows...
But she don't look pretty...
52 by early Nov...

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