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VIX, Oil, BRICS & Sterling's Sell-Appeal
BRICS equity indices fail at key fib retracements, VIX and oil near major trend lines and sterling's sell-appeal hasn't looked this good in a while.
I'd been absent from the Forum from the past three weeks...and now caught up by reading the previous posts!
Hindsight is a great thing...but can also often make you smile. About oil...well, you wrote on 25/9 that you expect oil to fall to 63 (I agree - still agree!), someone else wrote he expects it around 40 by year end...and yet another wrote 37. It seems pretty funny...even bizarre!
Ashraf, what does your common sense (let's leave analyses aside for a bit) suggest is happening? I'd like to listen to that side of the story. You know WELL that this should NOT be happening, right? Why, then?
Personally, and again...I believe that the fair price of oil is NO B****Y WAY above 65...even 62! And we all are here to witness that the markets will come down w/ a bang!
Spec, you saw them reverse the Sep trend - now enjoy the Oct reversal! They're showing you 10,000 Dow. After that? :)
Asad
Thanks for your reception! :)
Gunjack...I wrote that I have been RELIGIOUSLY following the markets. I do NOT know WHO or WHAt is driving the market forward.
Pipster...ask yourself this question - what is driving the oil forward (demand or JUST weakness in $). If your answer if the first, you're right! Next, is there any demand? No.
Today is Friday (fact! *heheh*). Seems like a classic traders' close. If it's not profit taking at weekend, the it's a NEAR high close. Why? Monday morning...they'll take it around 72.80/85 & then drop it from there to $70. Watch VERY carefully - they SHOULD be doing this!
Ashraf, WHY should oil break 73 & head towards 75? Has Israel planned an offensive against Iran? Is there a massive leak at Cushings? Or has BP decided to sell candies instead?
I may be the laughing stock of the Forum for (still!) consistently believing that the fair price of oil is b/w 60 & 65...but at least I believe I'm right!
IF ever the Regulators had to intervene...it is NOW! Dow 10000 - JOKE! Oil 75 - JOKE! Gold 1100 - JOKE! N.Gas 5 - JOKE!
Asad
from teh top at 9911 to 9832 i see two waves A and B respectively at 9397 and 9832.
B retrace at the 76 percent retracement .
do u think this configuration and pattern are sustainable and correct?
as for the dow i see it today or monday at 9771 points. is there gonna be some profit taking today?
thanks
iam actually on holiday but i can get out of my chair screening the dow jones.
Ashraf
with earning season coming and next week intel a nd ibm do u the think the market can head to 10000
thanks. said