gwizzie Posted October 6, 2008 Report Share Posted October 6, 2008 now I don't laugh at Tim Woods when he says 40 bucks oil I know. I would like to see his indicator BTW...anyone hearing any rumours/reports about Ghawar? Link to comment Share on other sites More sharing options...
Gatesy Posted October 6, 2008 Report Share Posted October 6, 2008 I know. I would like to see his indicator BTW...anyone hearing any rumours/reports about Ghawar? Puplava said at the weekend that "it's empty" Link to comment Share on other sites More sharing options...
gwizzie Posted October 6, 2008 Report Share Posted October 6, 2008 Puplava said at the weekend that "it's empty" this guy has been saying that too. And matt simmons of course. I'd doubt if the Saudi's would come out and admit that though. Link to comment Share on other sites More sharing options...
kernull Posted October 7, 2008 Report Share Posted October 7, 2008 this guy has been saying that too. And matt simmons of course. I'd doubt if the Saudi's would come out and admit that though. i read comments on some forum that bunkers with oil are fully loaded and waiting in ports, that there is no need for so many oil right now. complete mess, you don't know whom to believe. i will be believing charts only Link to comment Share on other sites More sharing options...
peterb Posted October 7, 2008 Report Share Posted October 7, 2008 To me it is simple - there are few places to invest right now; two of the leaders being gold and oil. This has left us with a conundrum resulting in a decoupling between the two. Money is moving between them and right now gold is moving higher. The question is when is the next interim peak in gold that will allow us a switch to oil? Is it $1200? Link to comment Share on other sites More sharing options...
Ret45 Posted October 7, 2008 Report Share Posted October 7, 2008 Very difficult to read POO at the moment however it is notable that the $88-90 range is being supported. I think we might be seeing a low here and are heading for a move up next week. Link to comment Share on other sites More sharing options...
kernull Posted October 8, 2008 Report Share Posted October 8, 2008 Very difficult to read POO at the moment however it is notable that the $88-90 range is being supported. I think we might be seeing a low here and are heading for a move up next week. i just read good news: Link to comment Share on other sites More sharing options...
kernull Posted October 10, 2008 Report Share Posted October 10, 2008 i just read good news: this news didn't last much. now going to 82. oil technically is deeply oversold, i think oil will be rallying with the bottom in the stock market, because so much selloff in the stocks, creates a lot of demand for the dollar (or cash), and thats why commodities cant rally yet Link to comment Share on other sites More sharing options...
drbubb Posted October 10, 2008 Author Report Share Posted October 10, 2008 BE CAREFUL I have been making some positive noises about OIH (but no buying yet), and have targetted $80-90 as an area for a possible low in Oil. That may still prove right, but I sugggest people tred carefully, as I will myself. I had an interesting PM from someone within the industry, that made these points: + projects beginning to be pulled. + oil Service companies pushed up ratse massively over the last 3 years, but economics for deepwater megaprojects are stretched to the limit + in a lower oil price environment, rates will have to fall back alot to make offshore projects viable, especially when libor rates are so high Result; there will be a huge squeeze on earnings in the offshore sector. Onshore may be brighter, however. Link to comment Share on other sites More sharing options...
chazza Posted October 10, 2008 Report Share Posted October 10, 2008 this news didn't last much. now going to 82. oil technically is deeply oversold, i think oil will be rallying with the bottom in the stock market, because so much selloff in the stocks, creates a lot of demand for the dollar (or cash), and thats why commodities cant rally yet I see a possible bottom at 78 (meeting downtrend line), on the back of potentially a precipitous fall. I also think the wave A bottom is fairly close. Coinciding with a huge drop in the main stock indices for their interim bottom? Link to comment Share on other sites More sharing options...
kernull Posted October 12, 2008 Report Share Posted October 12, 2008 I know you guys are tired of my failed bottom calls on oil, but I think this is very close to it, the only condition left, is a close higher than the opening: Link to comment Share on other sites More sharing options...
kernull Posted October 14, 2008 Report Share Posted October 14, 2008 crude is preparing a big move from 82-84 to 95 area , this will happen in 2-3 days, i will post the chart when this move will be almost set up Link to comment Share on other sites More sharing options...
kernull Posted October 14, 2008 Report Share Posted October 14, 2008 i am about to give up that crude will ever bottom some day edit: this means, it must be close to the bottom Link to comment Share on other sites More sharing options...
jerpy Posted October 14, 2008 Report Share Posted October 14, 2008 i am about to give up that crude will ever bottom some day edit: this means, it must be close to the bottom Don't give up i read your predictions all the time out of interest, check the price and come back to see what your next one is Link to comment Share on other sites More sharing options...
kernull Posted October 16, 2008 Report Share Posted October 16, 2008 Don't give up i read your predictions all the time out of interest, check the price and come back to see what your next one is thanks! no i won't, that's the oportunity of a lifetime, to buy oil. what i think is happening, is a huge deleveraging. all those people who bought oil from 55, are panic-selling it. if this is correct, then it will happend like with gold: no double bottom, only a v-shaped bottom. so, it must end selling above 55, lets watch it... Link to comment Share on other sites More sharing options...
GTG Posted October 16, 2008 Report Share Posted October 16, 2008 i am about to give up that crude will ever bottom some day edit: this means, it must be close to the bottom LOL, keep up the commentary Ker I've made a lot using it as a contrary indicator, in fact I was thinking you are bit like the silver sammy of oil. Not true I'm only joking, I also enjoy your analysis. I believe TA is a reflection of behaviour but does it not rely on rational behaviour too much rather than the "sod it just sell it if it raises cash" we are seeing now? Link to comment Share on other sites More sharing options...
drbubb Posted October 17, 2008 Author Report Share Posted October 17, 2008 I know you guys are tired of my failed bottom calls on oil, but I think this is very close to it, the only condition left, is a close higher than the opening: I note that the current level: $72-73, is almost exactly 50% of the peak, so it is an interesting support level. And now that we are here, I like it better than my old $80-110 imprecise forecast But even if we get a good rally here, and think lows could/should be retested later (in 2009?) Link to comment Share on other sites More sharing options...
kernull Posted October 17, 2008 Report Share Posted October 17, 2008 I note that the current level: $72-73, is almost exactly 50% of the peak, so it is an interesting support level. yes! in fact, we bottomed , volume down is low, i am already in it, just waiting for confirmation , to the put "official" bottom chart. Link to comment Share on other sites More sharing options...
kernull Posted October 17, 2008 Report Share Posted October 17, 2008 But even if we get a good rally here, and think lows could/should be retested later (in 2009?) exactly, we will get a decent rally but this is only (A) of the ABC Link to comment Share on other sites More sharing options...
Gatesy Posted October 17, 2008 Report Share Posted October 17, 2008 Zapata George talking about manipulation of mainstream media channels: Well folks, we’re going to take care of this problem in our own way. Starting as soon as next week, we will be implementing Radio Zapata George, and we will bring you a weekly news show that will talk about everything that’s happening in the economy and especially as it relates to energy. We will answer your questions and hopefully help you get to the truth about everything that’s going on. You know from me what you’ll get… “No Bull!” Link to comment Share on other sites More sharing options...
kernull Posted October 18, 2008 Report Share Posted October 18, 2008 LOL, keep up the commentary Ker I've made a lot using it as a contrary indicator, in fact I was thinking you are bit like the silver sammy of oil. LOL! Indeed, I am. Again, i missed it: Link to comment Share on other sites More sharing options...
kernull Posted October 21, 2008 Report Share Posted October 21, 2008 Link to comment Share on other sites More sharing options...
GTG Posted October 21, 2008 Report Share Posted October 21, 2008 That's it... expect a trend reversal folks Sorry Ker, could n't resist. Link to comment Share on other sites More sharing options...
kernull Posted October 22, 2008 Report Share Posted October 22, 2008 That's it... expect a trend reversal folks Sorry Ker, could n't resist. lol! Link to comment Share on other sites More sharing options...
frizzers Posted October 22, 2008 Report Share Posted October 22, 2008 Maybe it was a bubble after all. Link to comment Share on other sites More sharing options...
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