If Oil Breaks 64, (memo To All) Sell!!!

Discussion in 'Commodity Futures' started by BlueStreek, Nov 29, 2006.

  1. natural gas is close to 9 a btu, on mild weather....that could throw a damper on the bulls case as well.

    If there is a draw-down in that report tomorrow....look out.....retail sales will be a mute point.

    I think THURS, FRI, MON=very important days to the psyche of the "POWER GODS/goldman sachs"=do they throw the chasers a bone-and get greedy themselves-and make another little run, or do they just roll the market over from here, and start shorting the market down?

    Of course, if oil explodes, they will just be following the sell-off, not determining it--as everyone and their brother will be selling this bull market run:)

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  2. Here in NY, they are predicting it will be in the high 60's tomorrow :) :) :cool:
  3. who`s "they"? Radio talk show callers--on biz radio?
  4. if hedge funds start piling in to this trade.....we could really see 68 rather fast.
  5. basis


    Last time oil broke thru $64 from the downside was August '04.

    The SPX is up about 25% since then.

    Thank you for playing.
  6. Crowbar


    No shit?? Crowbar best go get hisself some contracts!!
  7. my g/f friend who is an analyst for marathon says that the future for NG is very bullish based on the supply/demand fundamentals.

    all I know is if we have any drawdown in tomorrow`s report, and a cold front hits the east coast, ng could spike past 10 btu by next week.

    Too bad amaranth`s positions were un-manageable--looks like they were directionally correct longer tem.