Another Record ($143.67)

olekriri · **Joined:** Tue Apr 22, 2008 12:00 am **Posts:** 33

I've bet $100 with a friend of mine on a new record today

charliehelyes · **Joined:** Sun Mar 27, 2005 1:00 am **Posts:** 86

the price is flirting with the record at $139.05

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

Well, you made $100. The high so far was $139.89.

dorlomin · **Joined:** Sun Aug 05, 2007 12:00 am **Posts:** 1917

$139.89

charliehelyes · **Joined:** Sun Mar 27, 2005 1:00 am **Posts:** 86

http://www.livecharts.co.uk/MarketCharts/crude.php
the high was over $139

mcgowanjm · **Joined:** Fri May 23, 2008 12:00 am **Posts:** 535

joewp wrote:

Doesn't crude look like it's forming a bullish pennant? That's like classic technical analysis textbook stuff there.
[web]http://charts.barchart.com/chart.asp?sym=CLN8&data=A&date=061308&den=MEDLO&divd=n&evnt=ADV&grid=Y&jav=ADV&size=D&sky=N&sly=N&vol=Y&late=Y&ch1=013&arga=&argb=&argc=&ov1=&argd=&arge=&argf=&ch2=&argg=&argh=&argi=&ov2=&argj=&argk=&argl=&code=XSTKIC&org=stk[/web]

Breakout today.

Flagpole replication says $160 min the next traget.

Duende · **Posted:** Mon Jun 16, 2008 6:51 am

Looks like today could be another one of those days...

Novus · **Joined:** Tue Jun 21, 2005 12:00 am **Posts:** 1948

olekriri wrote:

I've bet $100 with a friend of mine on a new record today

Is your friend stupid or something? Oil went into record territory as soon as the market opened. This is a sky is blue, water is wet type. Hopefully this knocks some sense into your friend.

olekriri · **Joined:** Tue Apr 22, 2008 12:00 am **Posts:** 33

The bet was made on Friday.

Revi · **Posted:** Mon Jun 16, 2008 7:45 am

Maybe not a new record, but it is over $138 now, anyway.

http://www.321energy.com/

I feel better about buying oil at $4.91 a gallon for next winter.

It might turn out to be a bargain.

lowem · **Posted:** Mon Jun 16, 2008 9:00 am

Just another $10 and change and we will get $150.

So much for the Saudi's "pledge" to increase output by 500 kbpd.

Peleg · **Joined:** Tue May 20, 2008 12:00 am **Posts:** 239

lowem wrote:

Just another $10 and change and we will get $150.

So much for the Saudi's "pledge" to increase output by 500 kbpd.

They can't really maintain that. Think about it, the incentive for upping production was way back at $90 per barrel (when was that?) No, if they do come in with some stuff it will be goop not high grade oil, that does'nt help anyone. What helps is for OPEC to finally come clean and tell the world the way it is. Yes, there will be a price shock, but at least you are giving people the information they need to make informed decisions about their personal energy use and their future.

Right now I feel better betting on the Saudi's to have a conscience than the current Administration, but then again Bush has told us often that we need to get off oil. Apparently we prayed him into office so that he would tell us only what we want to hear. Stuff like 'our way of life is non-negotiable.' and 'God bless America.'

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

mcgowanjm wrote:

joewp wrote:

Doesn't crude look like it's forming a bullish pennant? That's like classic technical analysis textbook stuff there.

Breakout today.

Flagpole replication says $160 min the next traget.

It's pulled back and is testing the top of the pennant. If that holds, should be cleared for takeoff.

Cynus · **Joined:** Fri Aug 13, 2004 12:00 am **Posts:** 666

Over at Calculated Risk it is assumed that what is going on is that the Investment Banks dumped all their bad mortgage securities on the Fed in exchange for T-Bills, and then leveraged it all up to bet on oil. Soon the big boys will decide they've played the game long enough and the price of oil will collapse. Probably right after enough public pressure builds on congress to allow oil drilling in off limit places.

Another Record ($143.67)

Who is online