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Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,758,986 times
Reputation: 3587
Quote:
Originally Posted by evilnewbie
Now if only they will hold (better yet, continue to gain)... we will see tomorrow... I still think its going to drop though...
Tomorrow the market will possibly take a breather. I predict it will end up about the same as today but by the end of next week we should be cracking 12,000.
I would really like to know the reason behind the fall in oil.
tallrick, I agree with you that I couldn't find any sane reasons for these last 2 days of a rally. The fundamentals aren't there to support them.
I would really like to know the reason behind the fall in oil.
tallrick, I agree with you that I couldn't find any sane reasons for these last 2 days of a rally. The fundamentals aren't there to support them.
It ran to $145 too fast. It's a correction, and I don't think it will go much lower than $120.
As far as the rally goes, it's similar to the post bear stearns bail out rally. It's the markets way of embracing socialism before they see the value of the dollar slip against the Euro ever more (which will take a few months before it becomes apparent.)
Everyone knows the dollar is in deep trouble, but for now, embrace the rally, hedge you long positions in commodities accordingly, and ride the wave up. Don't worry, we are still in a bear market and will continue to fall to the 10,000 level and trade flat there for many years.
TexianPatriot, where did you get your crystal ball?
Anyhow, the moves in the Dow are very odd. Why are financials going up so much? Something smells a bit fishy here. Oil dropping makes sense though, its trading far beyond fundamentals right now.
I would really like to know the reason behind the fall in oil.
Look at inventories of gas and distillates too. Inventories of everything went up. Demand didn't slow....it fell through the floor.
My theory is that stimulus checks helped to prop up oil use and contributed to keeping the price high through the start of the summer. Plenty of people like me cashed their checks and then went straight to the gas station....
I would really like to know the reason behind the fall in oil.
Hopefully this drop can be sustained and isn't short-lived like the last two have been. There is more at work behind the oil prices than we are lead to believe. I am just guessing, but I fully expect oil to go lower than anybody anticipates as the election approaches.
Hopefully this drop can be sustained and isn't short-lived like the last two have been. There is more at work behind the oil prices than we are lead to believe. I am just guessing, but I fully expect oil to go lower than anybody anticipates as the election approaches.
dude, your predictions are all over the place. stick to something man, even if you are wrong.
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