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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
Don't you think you've missed the tide?! get in now & get burnt!
The last time crude touched 81.50, I've been screaming since then that the Cartel is buying oil. Remember ALL signals at that time were short - GS lawsuit...Greece/Portugal downgrade...& even the oil slick hadn't taken place. I believe I'd been extremely categorical in giving buy signals...on the back of some solid information.
If nothing untoward happens in the coming days, oil is set to stride...
Asad
P.S. Hey, I'm the bearEST of the oil bears (as Gunjack would tell you, complainingly :p )...and if IIIIIIII am long...you guys have to reason that! ;)
The eurozone uncertainties will persist but it seems gold cannot break the barrier of open interest at 1188. In fact i do not see any moving news that could propel Eur up but it may fluctuate between 1.31 and 1.34 for a while. Germany has signed the Eur 20 bill bailout check for the media they said we gonna get that back plus interest...yep.
If that has uncertainty it will be a heavy oil short signal.
And a buy frenzy of alternative energy stocks e-auto stocks battery stocks...
Obama could turn himself into greener than green... but I don't believe such will happen.
However if someone wants to create jobs by the million... a turn away from oil in the range of
3 years is a very good approach . If sentiment turns countrywide against oil and Obama has a plan...
then forget about US recession and subdued inflation.
Ashraf