Here's a comparison monthly chart of the US Dollar Index vs. CL and you can see some reverse correlation, some symmetry. http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump And you can see the range in October 2008 for CL. Nice short. [Oct 2008] Open: 101.860 High: 102.840 Low: 61.300 Close: 67.810 And the USD Index range for November was big too. [Nov 2008] Open: 67.370 High: 71.770 Low: 48.250 Close: 54.430 Here's a daily comparison and you'll notice the symmetry at the end for CL isn't quite in sync, thus my comments about it maybe taking on a life of it's own to some degree. Sometimes the psychology of trading realities themselves can override supply and correlations to the USD fundamentals. Of course there are other fundamentals and some of this is related to supply. http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump
Here again you let your personal bias interefere with making money. You keep saying Oil is only worth $35 but even your rhetoric seems to suggest you expected $100. So why did you not INVEST A WAD OF MONEY BULLISH ON OIL ???? Even back in May 2009 I remember many analysts unclear on Oil were still saying it could easly go to $70 again because that's where OPEC wants it before can release more supply. Pick a bushel of Oil stocks in May 2009 and how would you have done investing in them now ? Now here's the interesting part. Oil stocks do seasonally well starting in February, and the stocks themselves are lagging Oil. When the new earnings reports come out in 2011 they will likely start to indicate the extra money these companies make at $80+ Oil. So do yourself a favour and go long Oil companies now. This is one sector that will be fine in 2011 regardless of overall market direction.
Oh, now you're in collusion with icfedpeeple trying to run a perfectly good trade against me?? http://www.elitetrader.com/vb/showthread.php?s=&postid=3045090#post3045090
BCE, kindly remove your 150 lots from the bid there @ .77 so price can comfortably continue on its way to 89.98.
Look, I'm onto that game. We all know price will break right through it despite your success at shaking icfed out of his position
Start to short oil, next week the northern part of the US is suppose to be about 10 degrees warmer than the past 2 weeks, I think Oil is dropping down around $85 in the next 1-2 weeks.