Vick, this is for you

wig · 05-06-2004

Okay, Oil is sticking its' head up into my resistance area.

Cycles still align in June, but Oil has been running in a 6 week cycle in this advance of which we are at right now.

A spike above $40.00/CLM should be monitored for a peak and subsequent 3-5 week and potentially 3-6 month high.

The Wig has spoken. ;-)

RawAlex · 05-06-2004

wig, the warning up here on the retail side is high retail prices until the end of summer, a short break in the fall, followed by continued high prices in the fall and winter heating seasons. There is no forecast that I have seen that shows oil prices dropping.

Now would be a good time to start looking for those "oil related" stocks, and also for the exploration companies and such in North America, as $40 barrels makes drilling wells a good idea again.

Alex

wig · 05-06-2004

Hey Alex,

I will respect your opinion on the fundamentals you have provided as a cause and effect reason for firm Oil prices.

However, I do not use fundamentals nor do I think there is a need to when taking on the tricky task of anticipating market action.

I will say that althought I believe we have reached a resistance area for Crude in both price and time, any sell off from here is only a correction in an overall bull market.

We shall see. ;-)

Vick · 05-06-2004

Thanks Wig
I'll keep an eye on it

RawAlex - as far as fundamentals I surprised you're not taking the path of oil prices dropping post July as the Saudis could drop prices to help keep GW in office (and then squeeze us later)

05-06-2004	#2
RawAlex Members $100 for every ImLive sign-up Join Date: Oct 2002 Posts: 4,036	wig, the warning up here on the retail side is high retail prices until the end of summer, a short break in the fall, followed by continued high prices in the fall and winter heating seasons. There is no forecast that I have seen that shows oil prices dropping. Now would be a good time to start looking for those "oil related" stocks, and also for the exploration companies and such in North America, as $40 barrels makes drilling wells a good idea again. Alex __________________ Let's go to the edge of disaster Push the pedal and go a little faster Let's slam into a wall at ramming speed Let's go to the edge of a mountain Jump off and lets start countin' Hit the ground and tell me if it bleeds

05-06-2004	#4
Vick Celebrating Company's Success with A Beer From Mini Bar Want to see your own Advertising Here! Join Date: Oct 2002 Location: Little South of Sanity Posts: 6,551	Thanks Wig I'll keep an eye on it RawAlex - as far as fundamentals I surprised you're not taking the path of oil prices dropping post July as the Saudis could drop prices to help keep GW in office (and then squeeze us later) __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening

05-06-2004	#1
wig Members Join Date: Oct 2002 Posts: 1,248	Okay, Oil is sticking its' head up into my resistance area. Cycles still align in June, but Oil has been running in a 6 week cycle in this advance of which we are at right now. A spike above $40.00/CLM should be monitored for a peak and subsequent 3-5 week and potentially 3-6 month high. The Wig has spoken. ;-)