Another Record ($143.67)

MacG · **Joined:** Sat Jun 04, 2005 12:00 am **Posts:** 1169

emersonbiggins wrote:

<snip> the rest of us, OTOH...

"When the game is over, the king and the pawns are returned to the same box"

Tankers don't grow on trees and they can not be built by analphabets - it takes loads of middle class engineers to get them built and running. The same goes for drilling rigs and refineries. And just about everything else needed to keep the wheels on this world turning. The interdependencies are not possible to chart or understand.

emersonbiggins · **Posted:** Fri Jun 06, 2008 3:17 pm

MacG wrote:

emersonbiggins wrote:

<snip> the rest of us, OTOH...

"When the game is over, the king and the pawns are returned to the same box"

Tankers don't grow on trees and they can not be built by analphabets - it takes loads of middle class engineers to get them built and running. The same goes for drilling rigs and refineries. And just about everything else needed to keep the wheels on this world turning. The interdependencies are not possible to chart or understand.

98,000 acres in Paraguay and satellite phones = autonomy, if you can get it.

The Rockerfellers and Rothchilds of the world won't be intermingling in the town square for the leftover crumbs.

TheDude · **Posted:** Fri Jun 06, 2008 4:03 pm

MacG wrote:

Tankers don't grow on trees and they can not be built by analphabets - it takes loads of middle class engineers to get them built and running.

Sweet, got a fancy new vocabulary word along with all this economic/geopolitical insanity. Thanks Mac!

Agree with Zar, too. The highest ups can only push things so far; don't think they're really on top of things either. They get to steer the ship, but if the iceberg's dead ahead...all they have in their favor is the insight to dress up as a woman/child/spaceman/Indian/sort of idealized vision of late renaissance man.

Daculling · **Joined:** Tue Apr 12, 2005 12:00 am **Posts:** 1347

TheDude wrote:

MacG wrote:

.all they have in their favor is the insight to dress up as a woman/child/spaceman/Indian/sort of idealized vision of late renaissance man.

I think it was posted on another thread and sorry for no reference... all they have left is Cultural Marxism. They pit us against ourselves. Blacks hate Whites, Chinese vs. Japanese and on and on. The concept of the proletariat vs. the establishment has been played in last century and now it seems they need a racial divide to keep the producing class from their throats. I'm not sure if that was where you were going so I'm sorry if I misunderstand your comment. You know, it's a surreal world when you live amongst such a concentration of illegal aliens and hate it but at the same time see them as your brothers... pulled from all directions...

something_awfull · **Posted:** Fri Jun 06, 2008 4:27 pm

woah. I went to bed last night, and oil was like $122-ish?, wake up today and oil is $138.54. If mere talk about war can cause a jump like this, what will an actual war do? I shudder to think.

idiom · **Posted:** Fri Jun 06, 2008 5:00 pm

Aw dude. You missed a great show.

DantesPeak · **Posted:** Fri Jun 06, 2008 5:44 pm

The Wall Street Journal attributes the superspike to issues we have discussing here for some time. We discussed here months ago how diesel was driving the price of oil higher.
In the weekly Inventory thread, the falloff in oil imports from Mexico and Venezuela, along with diesel export demand from Chile and China, was also discussed there in detail. Did I mention that we also had a thread called OPEC Exports Head East as Asian Supplies are Depleted?

But I thought you might like to know that the WSJ also came to the same conclusions we already had.

Who said the media will never get PO?

Quote:

Crude Leaps Nearly $11, In Fresh Hit to Economy
By NEIL KING JR.
June 7, 2008

At the same time, oil analysts say there are fundamental forces keeping prices high. Despite soaring retail prices, the demand for diesel -- the lifeblood fuel of the world economy -- continues to rise as consumers in places like China and Chile turn to generators to fill in for failing electricity grids.

The investment bank Morgan Stanley is predicting that prices will top $150 a barrel as the U.S. market -- which consumes nearly a quarter of the world's daily output -- confronts tightening supplies of crude. Oil stockpiles in the U.S. have fallen far below the five-year average, a report from the bank points out.

One factor leading to a crimped U.S. market: Persian Gulf suppliers are shipping increased quantities to fast-growing Asia, at a time when exports are falling sharply from two of America's largest suppliers, Mexico and Venezuela.

WSJ

darren · **Joined:** Thu Jul 07, 2005 12:00 am **Posts:** 127

chuck6877 wrote:

Damn, I'm eating some crow!!! I was WRONG.

I knew fundamentals were bullish but I thought we'd for sure have a larger pullback than $13.00!

One technical note:
When WTIC went to $135.09 it reached the highest above the 200 day moving average it had for this bull market as it went to 1.422 times the 200 dma

So what you're saying is that technical trading works... except when it doesn't??

darren · **Joined:** Thu Jul 07, 2005 12:00 am **Posts:** 127

MacG wrote:

Zardoz wrote:

It's all random. That's the scariest scenario of all, isn't it? That's what conspiracy theorists can't handle. That's what they're really afraid of.

I share this view. Everything I've seen and learned support it. It's beyond human capabilities to understand today's world.

Yes, there is a lot of secret manipulation by various powerful actors which have physical consequences, but the consequences are mainly unintentional. They don't understand the world they are manipulating.

+1. A belief that the men in the black helicopters/the Illuminati/the Rothschilds/whoever are running the world is akin to belief in the monster under the bed.

smallpoxgirl · **Joined:** Mon Nov 08, 2004 1:00 am **Posts:** 7742

darren wrote:

So what you're saying is that technical trading works... except when it doesn't??

Worked fine for me. Inverted hammer, below 20d moving average, in an uptrend, followed next day by trading above the real body of the hammer->buy signal. Doesn't usually work out that nicely, but the signals were there.

GHD · **Joined:** Mon May 19, 2008 12:00 am **Posts:** 7

darren wrote:

+1. A belief that the men in the black helicopters/the Illuminati/the Rothschilds/whoever are running the world is akin to belief in the monster under the bed.

I agree as well. I think it's easier for people to accept conspiracies than it is for them to accept that the universe has no particular agenda and isn't conscious to work for or against us. As long as you have an enemy, you have an explanation.

The fact that there are as many opinions about what is happening as there are people is proof enough that no one person fully understands all the details. People get caught up in reviling or idolizing figures like Ben Bernanke or the White House, convinced that those entities really do have control over the economy and are going to destroy them or save them.

We have been so brainwashed by our societies that we really do believe that our way of life is normal and sustainable. It isn't -- what goes up must come down.

Armageddon · **Posted:** Fri Jun 06, 2008 6:26 pm

darren wrote:

MacG wrote:

Zardoz wrote:

It's all random. That's the scariest scenario of all, isn't it? That's what conspiracy theorists can't handle. That's what they're really afraid of.

I share this view. Everything I've seen and learned support it. It's beyond human capabilities to understand today's world.

Yes, there is a lot of secret manipulation by various powerful actors which have physical consequences, but the consequences are mainly unintentional. They don't understand the world they are manipulating.

+1. A belief that the men in the black helicopters/the Illuminati/the Rothschilds/whoever are running the world is akin to belief in the monster under the bed.

You don't believe the central bankers control things ? Try this one.

http://www.seanscreenplays.com/BeteNoir ... 0POWER.htm

chuck6877 · **Joined:** Mon May 16, 2005 12:00 am **Posts:** 497

smallpoxgirl wrote:

darren wrote:

So what you're saying is that technical trading works... except when it doesn't??

Worked fine for me. Inverted hammer, below 20d moving average, in an uptrend, followed next day by trading above the real body of the hammer->buy signal. Doesn't usually work out that nicely, but the signals were there.

I wish you'd have told me smallpoxgirl

I've subscribed to a couple guys for the last few years and read a ton of stuff, and I just know some basic things. I'm definitely an amateur that knows enough to go lose some money!!

Smallpoxgirl, what do you think will happen next?

Adam Hamilton is real big about the % above the 200dma and how it repeats itself.

I think 1.42 X the 200 dma may be a moving top for a while. We'll have to watch......

Did you notice that the oil stocks went down today?! They're correcting back to the 200dma, and it looks like nothing is stopping them(not even an $11.00 rise in the price of oil!).

Chuck

sparky · **Joined:** Mon Apr 09, 2007 12:00 am **Posts:** 376

.

I predicted a hight of 169$ this year , but Friday rise came as a big surprise , I thought there would be a stabilization at 120 ~130.
now it looks like 150 is there for the taking :shock:

one doesn't know anymore if it's crude price going north or the US $ going south .... or how much of either !

.

yesplease · **Joined:** Tue Oct 03, 2006 12:00 am **Posts:** 3650

The dollar's down a percent, so supposedly most of the increase is do to hedging against possible military action in the ME, specifically Iran.

Quote:

Over the past two days, crude oil has leapt about 16 dollars as the market reacted to a new decline in the dollar after the European Central Bank signaled an interest rate hike Thursday and the US reported a sharp rise in unemployment Friday.

Compounding the dollar squeeze were remarks by Israeli Deputy Prime Minister Shaul Mofaz reported Friday by the Yediot Aharonot newspaper, analysts said.

"If Iran continues its nuclear weapons program, we will attack it," Mofaz told the daily, stressing that such an operation could only be conducted with US support.

"Other options are disappearing. The sanctions are not effective. There will be no alternative but to attack Iran in order to stop the Iranian nuclear program," Mofaz, who is also transportation minister, said.

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