Crude price record

Geko45 · **Posted:** Thu Jul 03, 2008 5:14 am

for posterity

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

Does anyone remember my post on 1.421 times the 200DMA appearing to be a ceiling for WTIC? Well we still haven't surpassed it.

The 200dma is about $103.50 now and when it gets to $105.5 in about 5 days we have the opportunity to hit $150 oil. I don't think we'll surpass 1.421X200dma though unless it's the blowoff top to begin a correction.

misterno · **Posted:** Thu Jul 03, 2008 6:10 am

Oil hits $145.85 and yet nobody on the street cares

Everybody lives on la la land, parking lots full of SUVS, restaurants full of people, nobody ever mentions high price of oil. very few are concerned

I wonder when this is gonna hit the average person's life. Now that is gonna be a quite show to watch

frankthetank · **Posted:** Thu Jul 03, 2008 7:45 am

For what i can understand, the prices that we see today probably don't reflect $100 oil, let along $150 oil.

idomar · **Posted:** Thu Jul 03, 2008 7:51 am

chuck6877 wrote:

Does anyone remember my post on 1.421 times the 200DMA appearing to be a ceiling for WTIC? Well we still haven't surpassed it.
The 200dma is about $103.50 now and when it gets to $105.5 in about 5 days we have the opportunity to hit $150 oil... I don't think we'll surpass 1.421X200dma though unless it's the blowoff top to begin a correction.

I remember, great post btw

a 200 dma gives us a high of around 147-8, so we are still a bit away from this.

sameu · **Posted:** Thu Jul 03, 2008 8:19 am

misterno wrote:

Oil hits $145.85 and yet nobody on the street cares
Everybody lives on la la land, parking lots full of SUVS, restaurants full of people, nobody ever mentions high price of oil. very few are concerned
I wonder when this is gonna hit the average person's life. Now that is gonna be a quite show to watch

it's hallucinant almost like they're living in another dimension

ClassicSpiderman · **Posted:** Thu Jul 03, 2008 8:29 am

It looks like Simmons is going to win his bet regarding $200 oil after all.

bodigami · **Joined:** Wed Jul 26, 2006 12:00 am **Posts:** 2330

Geko45 wrote:

for posterity

What is the website you posted her, in which you can see the highs?...I'm searching for the old post.
(Edit) found it

Forney2008 · **Posted:** Thu Jul 03, 2008 9:55 am

When did another record count electronic trading? I thought it was just based on trading on Nymex from 9:30 to 2:30 P:M?

bodigami · **Joined:** Wed Jul 26, 2006 12:00 am **Posts:** 2330

Forney2008 wrote:

When did another record count electronic trading? I thought it was just based on trading on Nymex from 9:30 to 2:30 P:M?

...I think it's Brent, which closes only in weekends.

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

Forney2008 wrote:

When did another record count electronic trading? I thought it was just based on trading on Nymex from 9:30 to 2:30 P:M?

More than 80% of Nymex trading is now electronic.

dunewalker · **Posted:** Thu Jul 03, 2008 12:21 pm

Shannymara wrote:

Anyone have a good theory on why there's a sudden spike in price right now, late in the day before the long weekend in the US? We're up almost 2 bucks. Thanks in advance.

Shanny, I just noticed that the Dow Jones apparently closed 3 hours early today. Maybe folks started trading oil afterward...

EnergyUnlimited · **Joined:** Mon May 15, 2006 12:00 am **Posts:** 3766

I love an explanation above. :-D

bodigami · **Joined:** Wed Jul 26, 2006 12:00 am **Posts:** 2330

Shannymara wrote:

Anyone have a good theory on why there's a sudden spike in price right now, late in the day before the long weekend in the US? We're up almost 2 bucks. Thanks in advance.

Aren't all recent spikes before the weekend?

biofuel13 · **Posted:** Thu Jul 03, 2008 2:28 pm

chuck6877 wrote:

Does anyone remember my post on 1.421 times the 200DMA appearing to be a ceiling for WTIC? Well we still haven't surpassed it.
The 200dma is about $103.50 now and when it gets to $105.5 in about 5 days we have the opportunity to hit $150 oil. I don't think we'll surpass 1.421X200dma though unless it's the blowoff top to begin a correction.

I remember your earlier post on this and was just thinking about it last nite actually. Thanks for the update it was just what I was looking for.

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