Discussion in 'Trading' started by Port1385, Aug 8, 2008.
Oil has broken support. The new bull market is back!!!
Predictions based on extensive analysis and research and market analytics for August 8th, 2008.
I wouldnât go that far. Typically we donât start new bull markets when a new prez is coming in.
Are we in for a bear market rally, that I do agree with.
Everybody was talking about supply / demand for oil like last month. Politicians, traders, douche bags never talked about speculation, technical, and not much about the US dollar.
Oil inventories are down. How about the Nigerian, Iran, Russian instability? Now all of a sudden the global growth is dead but stock market is "dead bouncing". While oil is shooting up, these "experts" quote the demand. What a joke! What a sudden drop in global demand!! I am not saying the oil is dead but I'm so tired of them justifying the fundamental where it is mostly a trade and the dollar.
And are we still getting the "rebate for oil" as the politicians purpose? I will deposit it into my trading account.
Oil is headed down to 110.
Try taking a look at the multi-month "double-top" in the FXE ( euro ).
I am buying Oct 130 oil calls. We will see.
P.S. On top of it I bought US dollar index Puts. No guts, no glory!
Not sure if it's the triple top after the double-bottom. But 2nd high is higher than 1st and 3rd is even higher. Breakout? Range trade at least? Oh, I mean the US / euro.
Idiots on this message board, the Dow should go to about 12,100 before turning around.
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