Gold, Oil & Indices (Equity & Bond Indices)

Selling the family jewells always a sad situation. I do wonder if obama wagon want to see BP crushed, especially as outside contractors also had responsibility. Probably showing my ignorance here.

Looking at the CL daily chart the 7th dec high was a little shy of my first upside target @90.96 (127.2% ext ret of the swing down from 11th to 17th nov) Damn, I missed taking a short.

Right now the formation from the high looks like a bull flag but if it persists much longer the flag pole might fall over:-)

My correlation chart reflects what I have been seeing in NYSE breadth on stocks which been holding up on pure fumes (read y/e bonuses for elite players in declining holiday volume environment)

Crude been broadly sideways bucking CAD weakening & gold weakening but stocks edging up. You could say that on the correlation chart I been running CL is confused and hedging its bets right in the middle.

Summary:- DaveO no help whatsoever at this juncture.

Gunjack,

Correxion. BP's total liability is $40b. :) Yeah, BP does HAVE potential, but the way they're stripping their prime assets to pump up the 'fund', will leave them operationally impotent in years to come! They selling down to save their ass, but at the cost of parting w/ their prime assets?! A bit Catch22-ish, isn't it...??


Asad

i am gonna make u all TEXAS RICH

british petroleum at 650

Jan 11 CMC had no other future to offer...

Callum, SPX been holding up on fumes this month. Breadth needs to increase soon or stocks likely to crater. You need to ask GS what they intend in the next few days :-) Typically those guys will manage to hold up into y/e for da bonus.