Crude price record

mcgowanjm · **Joined:** Fri May 23, 2008 12:00 am **Posts:** 540

mcgowanjm wrote:

Forney2008 wrote:

Niagara wrote:

What just happened? Oil just spiked sharply higher by 5 bucks.

Someone farted in the Middle East?? Seriously though, I think it could be a technical bounce of of the 200 DMA. Further up this page, some on here where talking about oil heading to 150 a barrel based on technical analysis---Something like 1.42 times the DMA of 105.

From TOD:mcgowanmc on July 7, 2008 - 11:32am
The shakeout happens on Monday.
Tuesday afternoon inventory gets talked about.
Wed inventory two of the five categories miss.
Oil drops in the AM, rallys at the close.
Thursday rally sets record. Friday holds gains.
Rinse. Wash. Repeat.
Update: $141.70 Thurs Jly 10, 2008

Why'd it happen? The PPT took off it's positions. And/or someone's on the wrong side. And/or needed
immediate funds.

Lehman? LEHMAN BROS HLD (NYSE: LEH) NEW Real-time: 16.06 Down 3.68(18.64%)

Niagara · **Posted:** Thu Jul 10, 2008 12:06 pm

It wasn't just a typical late day rally near the close.

At precisely 2:25pm there was a HUGE spike in volume and the price jumped very sharply.

Sketh · **Joined:** Sat Jul 02, 2005 12:00 am **Posts:** 60

Iran has test-fired another missile.

Nigerian cease-fire ending.

Petrobas workers threatening strike.

Take your pick (most newswires saying it's Iran).

Day's high is $142.10. Now a buck lower.

Zardoz · **Posted:** Thu Jul 10, 2008 12:46 pm

Everything's rebounding right back up to nearly where it was: Crude, heating oil, and RBOB gasoline. Somebody's made some money in the past couple of days...

idiom · **Posted:** Thu Jul 10, 2008 1:22 pm

Still waiting for the headline:

"CNN FIRES OIL ANALYSTS, HIRES WEATHERMEN INSTEAD"

mcgowanjm · **Joined:** Fri May 23, 2008 12:00 am **Posts:** 540

Niagara wrote:

It wasn't just a typical late day rally near the close. At precisely 2:25pm there was a HUGE spike in volume and the price jumped very sharply.

And it's holding. Someone's getting a margin call.

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

Niagara wrote:

It wasn't just a typical late day rally near the close. At precisely 2:25pm there was a HUGE spike in volume and the price jumped very sharply.

Ohh come on man. Everybody and their brother knew this was the day for it to head back north. The last time it hit that same support line was June 5. Look what happened there. Obviously this thing was gonna rocket up once it started to move. Everybody was just waiting for confirmation that it was really happening. Then the mechanical trading system for one of the big players hits it's trigger, dumps a big buy order into the system, and it's off to the races.

lowem · **Posted:** Thu Jul 10, 2008 10:52 pm

We're back up $6, we're back up over $140, and we're back on track to $150 oil ... !!

godq3 · **Joined:** Fri May 23, 2008 12:00 am **Posts:** 4

143.98$. New record today?

lowem · **Posted:** Fri Jul 11, 2008 2:08 am

Welcome back to $144 oil.

... go go go !!!

lowem · **Posted:** Fri Jul 11, 2008 2:32 am

... would it help if we start shouting :

$150 !!! $150 !!! $150 !!! ... :lol:

DoomWarrior · **Posted:** Fri Jul 11, 2008 2:57 am

lowem wrote:

... would it help if we start shouting: $150 !!! $150 !!! $150 !!! ... :lol:

$145 ...... Holy F#ck Batman!

lowem · **Posted:** Fri Jul 11, 2008 2:58 am

Yep.

Welcome back to $145 oil.

Cyrus · **Joined:** Tue Jan 25, 2005 1:00 am **Posts:** 635

$145.26 at 5:20 AM CT.

kilik · **Posted:** Fri Jul 11, 2008 3:43 am

$145.65. Just a few cents from a new record...

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