Pages: 1
Crude Oil Prices
(Click here to view the original thread with full colors/images)
Posted by: godoftrading
$115 - $120 Oil?...bah, who cares!
Declining retail sales, housing still screwed, energy and food commodities skyrocketing - I know the market anticipates future conditions but don't the glasses seem a little extra rosy right now?
We bought a lot more Macs and stuff from Amazon. So everyone's staying home and on the internet. Does that mean the rest of the economy doesn't matter? Housing in the cellar - ha, so what, Mariah Carey had a lot of Amazon downloads!
From a short perspective, probably the creepiest thing about this stock market is the way we dinged $120 on oil and we rally anyway. If we get short capitulation here in the next few days, we could blow through resistance and get a monster rally.
Plenty of mutual funds and pension funds are sitting on huge amounts of cash after selling stock for the last six months and they exist to hold long stock. That's what they do. They sure as hell aren't in business to short stocks. If they start leaning on this thing to the upside that will push things a lot higher.
Posted by: golddust
Interesting comments, very direct and to the point. A lot of market movement is creepy right now.
Posted by: okosh
We now at $1.55 per liter for unleaded and $1.70 for diesel here in Aus 
Posted by: golddust
Conversion for US:
1 gal = 3.78 liters x $1.55/L = $5.86/gallon
Americans are crying at the pumps paying $3.55/gal. The 'predictions' is that the price will reach $5/gal by summer, taking 'driving' vacations out of the picture for many.
In Europe I understand the price of fuel far exceeds what Americans are used to paying. One major difference, in eastern countries the public is not so dependent on cars, and may not even own one, relying on public transportation. The US does not have a sufficient countrywide transportation system except for commuters from outlying major business centers. Air transportation offers little alternative for a traveling family.
Now biofuels are causing food shortages and exporting restrictions in some countries. The emphasis for going green on top?
I know I'll be planting and 'planted' in my garden this summer.