well I hope oil does break below $50. let me ask you something, you see all the bullishness on this thread and poll, the prevalent thinking of a "december rally", doesn't it look too obvious?
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I know what you're saying here, but I have had this level in mind since August. I bought SPY $118.00 and am holding them. I really think oil is worth $40.00 a barrell and originally felt that we would see $45.00 before the end of the year, but that is coming upon us quickly. I would just like to see it break below $50.00 at this point. The last piece of the puzzle was seeing energy inflation decline, which it did in the last report. Now, if the fed holds the rate at 4%, we are going to see some crazy shit going on. I like even numbers, and I think the fed does too.
is there anyone else who voted for more upward action that wants to address the pont that I made in above quote. Too much optimism for my taste.
I for one just read price RB, I have no clue as to where price will be on 12/31/05. I'm just concerned either swing or intraday where price is going when I place my trade . . . lol. My comment is with the Market making new highs that it will continue up until we start seeing a break down up here. A guess is a guess and you got mine.
I hear ya, Charlie. Shouldn't you factor in the excessive optimism present in crafting a conclusion, even for trading the next few days? A majority feel a December rally is a foregone conclusion. I'm just saying it seems too obvous.
We get somewhat of a Christmas rally every year. I see this year as no different. The only thing that would effect it would be something on the terrorist front and I would rather not think about that possibility. Right now and on Monday my concern is 1270.64 . . . To tell you the truth, after the first of the year I will trading the EURO exclusively so . . .