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Some more funda readings and not new,we all know this but from a
horse's mouth!
"The motorist organization AAA doesn't have an opinion on what
Congress should do. But like many American drivers, they've
certainly noticed that oil prices have shot up $50 a barrel since
August at the same time that the stock market tanked, while the
supply and demand picture for oil remained little changed.
Below para has been taken from
http://money.cnn.com/2008/05/16/news/economy/oil_speculator/index.htm
?postversion=2008051607
"After Israel invaded Lebanon, Hurricane Katrina, 9/11, all of these
situations, we haven't seen prices rise to these levels," said AAA
spokesman Geoff Sundstrom. "We have to wonder if the foundation
behind these very high prices is nothing more than speculation."
US being a powerful nation will try its level best to bring CL down
before the hurricane season begins,we are hence entering into a very
crutial point as far as Crude goes.
--------------------------------
And one more rumour is gathering ground and this is on interest rate
hike before the next schedule FOMC meet.I underline that this is
just a rumour and being discussed on various discussion groups among
traders/speculators so take it with a pinch of salt.
--------------------------------
--- In realtraders@xxxxxxxxxxxxxxx, "tpmods" <tpmods@xxx> wrote:
>
> There was a divergence on End of Day basis in CL y'day,lot of
supply
> it is getting near 127.48 area hence it looks a short candidate to
> me.Needless to say I went absolutely wrong in my first call but
now it
> seems that inuf is inuf and one should take a fresh short position
now
> without much worry and fear,Mr.Bush is in Gulf and will urge Saudi
to
> increase oil production and mostly they will,last is a funda
reading-
> LOL.All the best to traders.
> --- In realtraders@xxxxxxxxxxxxxxx, Ben <profitok@> wrote:
> >
> > Attach is a gif if crude
> > Bollinger bands and the macd
> >
> > looks like any day now it comes down
> >
> > (gold already smelling it and came down first)
> > look at candle made today and yesterday
> > Ben
> >
>
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