so some of you are calling for the next $5-10 lower before higher is that right ? cool ... I am short some gold over the weekend
There is a lot of good reasons why the bigger oil traders would "let" oil trade to the $98 to $100 zone imo....due to past accumulations of LONG positions there.
OPEC Is Unlikely to Cut Production www.bloomberg.com/apps/news?pid=20601072&sid=aL0HDY60jFqY&refer=energy
Dollar getting crushed. Time for the Oil and Metals complex to head back up! http://www.nymex.com/index.aspx
Minimal damage from IKE, but what I don't get is why does the exchange gap the crude price on their own instead of opening it at the previous close? or is this done in the pre-open?
looks like we opened up @ $101 figure traded briefly back to unch * basis friday close OCT 08 futures * the pre market indications were all over the place as I remember seeing them this am sub $100 - unch - high $101's perhaps this jiggling was meant to confuse most market participants except mr market himself