Speaking of fertilizer implosions,check out the charts of MEE,PCX... Look how these pigs got hyped into a mania rush as coal would be a cheaper alt to oil.This was an indicator that the last party train had left the station. Coal piggybacked oil at the last phase of oils mania.Coal mania suddenly started from nothing in April and oil peaked in July.Coal maintained its stratosphere price til august.Now its back to april prices.Amazing. PCX from 14 to 92 back to 20.In 5 months!
I actually fell for this fad. I thought it was a genuine rip-roaring bull market and I would make a fortune. I bought ICO on May 5 @ 8.65 and prepared to hold it for many months, if not years. I sold it on July 8 @ 9.93. This isn't the first time I was duped by mining stocks, I did it with a Spanish zinc miner a couple of years ago too.
YEAh unbelievable. It used to be stocks would rally strongly off the first downleg. Now they just go straight down. I also thought KOL was a good long. The fundamental story sounded good and the trend was strong and not too extended yet. It didn't look like a fad just yet. But I missed the boat on the way up and never bought when it started going down.
wasnt his 'pickens plan' the ultimate signal for market top. He wants taxpayers to subsidize tens of billions for infrastucture to supply his gas.He couldnt care less about oil independence-its all about how he can make money off any dire situation. Any way to find out how much he bet at the top of ng and oil?