Right $93 is very conservative. The red flag has been waved, although I had hoped to see a fast dip down to the $80 level before the wave up to $150, it may still come. Red flag being the Feds purchasing their own instruments, the magnitude of this signal is great, the next sign will be the Mortgage Backed Securities bubble burst very soon, taking the dollar down and commodities up. (another bailout). Watch the feds position after the Jekyll Island ‘anniversary’, expect things to ramp up in the middle east to distract from the obvious play between China and Russia….Note the sudden move to increase the US military positioning in Australia. Consider this: If the purchasing power of the dollar declines as oil price increases are we paying more for oil? We still pay the same $70brl, while the public pay the inflated price at the pumps. Lastly, all this will create hyperinflation contrary to what they would have you believe currently. Dow 11,400…as Smith said in the Live room, watch for the “Rally without reason” to signal the turn. Blah blah blah…. http://www.ibtimes.com/articles/79261/20101105/fed-returns-to-birthplace-g20-leaders-prepare-for-korea.htm Statistics: Posted by greygoose — Sat Nov 06, 2010 1:53 pm
Read the original here:
Technical Analysis & Patterns • Re: Price of Oil
Leave a Reply
You must be logged in to post a comment.