So will Monday be Black Monday for real this time?

Discussion in 'Trading' started by The Kin, Jun 8, 2008.

Thread Status:
Not open for further replies.
  1. Yeah yeah yeah. ET is a contrarian indicator. The existence of this thread will ensure Monday is a up day. But eventually history will repeat and we'll have a circuit breaker day. Someone somewhere will successfully call Black Monday. Be in 20 years from now, near year, next month, or tomorrow. :D

    On a slightly more serious note, the second the speculators get whiff of a possible hurricane development in the Gulf of Mexico, crude oil is really going to bust-a-move. That should tank the markets regardless of PPT. :p
  2. Oil has to go rise dramatically in price because:

    1) Oil consumption has risen 3% per year, and the price of crude oil has failed to keep pace, only doubling per barrel in the last year, and rising 12 fold in the last decade.

    2) This may be an active hurricane season, according to the very same meteorological service that predicted an intense hurricane season in 2007.

    3) Royal Dutch Shell lacks the money to hire security forces to keep sandal-clad rebels from kidnapping its Nigeria Delta platform employees, nor to keep them from throwing rocks at the installation and its pipeline.

    4) World War III is going to break out any moment because a middle ranking Israel official and a middle ranking Iranian official are making threatening comments about each other's country.

    5) Morgan Stanley says crude oil will rise to $200 per barrel.

    6) Some people believe that there's not enough oil, at present production levels, to meet world demand in 2030.

    7) A 3.2 earthquake in the midwest two months ago had the theoretical possibility to damage certain oil-pipeline infrastructure, although it is a verifiable fact that it did not.

    8) People pay $1.25 for a bottle of water at 7-11, so it logically follows that they should pay at least 4x that for a gallon of gas.

    I am too tired to finish 8 and 10, so knock yourselves out.
  3. 9) Goldman Sacs is long and has determined crude to appreciate to these levels so they can generate excess profits for their shareholders and employees alike.

    10) XOM is also supportive of crude's recent rise so they can earn sufficient cash to support the IRS and American people through quarterly income tax payments during these tough economic times.
  4. Thanks, Kin.

    Those work. :)
  5. PanPizza


    IF today's prices truly represent supply and demand, instead of a speculative frenzy, the outlook is bullish. In other countries--not just India and China --people are rapidly moving toward urban life and the increase demand for oil from more autos and city living will be dramatic. I'm not talking about Timbucktoo either; think Dubai and San Paola and even some Africaan cities.
  6. Well looks like Black Monday may not happen. There's always next week.

    Oil is down
    USD/JPY is up
    EUR/USD is down
    Futures are moderatly down

  7. yep,

    black Monday will be postponed until 9:31 eastern
  8. Were you sleeping on MLK day?

    That was Black (no pun intended) Monday bro. Already happened.
  9. markets will never fully tip their hands prior to the big one, clues a plenty, but when it happens, few will expect it, should start like any other day.

    stay tuned
  10. It would have had it not been for that pesky PPT.
    #10     Jun 8, 2008
Thread Status:
Not open for further replies.