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And a bit different look than:
The attached is a Hurst estimate of
overbought/oversold zones.
Yellow is overbought and cyan is oversold.
The periods tend to match what Kevin shows and
definitely
we are in a "bubble" overbought situation.
I doubt this will reverse itself as did Gold in the past
but
who knows. I firmly believe that we are near a top
in
the oil market.
That is not just the computer analysis. I've been in
that
business since 1955 and have ridden some booms
and
busts over the years and this really feels like the end
of
a boom.
Clyde
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Clyde Lee
Chairman/CEO (Home of
SwingMachine)
SYTECH
Corporation email: clydelee@xxxxxxxxxxxx
7910
Westglen, Suite 105
Office: (713) 783-9540
Houston, TX
77063
Fax: (713) 783-1092
Details
at:
www.theswingmachine.com
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----- Original Message -----
Sent: Thursday, March 17, 2005 11:03
AM
Subject: [RT] Teapot Dome
Chart found here:
http://kevinbantz.com/v-web/b2/images/ucl(m).gif
"
It took 10 years before the last long left oil stocks and the trend
resumed up. Here I marked a ten, nine and eight year consolidation
over the last thrty years of UCL
."
---more
http://www.kevinbantz.com/
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