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Looking to the past is the doorway to the
future. I don't remember who said it, but it is true. Here is
what I posted in June. This was not a short term look at things as
you stated but an objective for the price of oil at that time. You will
probably say the comments were useless, but I don't feel they were. An
exit at the target would have been called for. The entry price for the
down move was hit on the attached chart. It was revised as things are
dynamic, not static. You are quick to ridicule anyone that doesn't agree with
you. As for the post not being relevant to trading, no it didn't give a
specific trade, but it should have led some brighter ones to look at things that
will benefit from inflation and things that will be hurt by inflation. No
you wouldn't have made $18,000 on one contract, but $11 on one contract is
nothing to sneeze at either.
Sunday, June 29th, 2008 at 10:20 am
Whether we want to believe it or not, our whole
economy is oil dependant. OPEC now has complete control over
our livelihood and our standard of living. If oil goes to
$200 a barrel, where will we be? How many people will be able
to commute to work? Will gasoline be $6, $7 or $8 a gallon or
higher? Right now either China or one of the oil producing
countries is buying up America. Where are the billions of
dollars of funding coming from to save the investment banks and other troubled
institutions? We complain a lot and yet what are we
doing to solve the problem? We are producing ethanol, which
is creating a bigger problem than the one we started with. It
is easy to lay out the problems; the solutions are far more
difficult. There are no easy answers to situation we
let ourselves get into, but we must find the answers to survive.
This is just one man?s opinion.
The August Crude Oil
Futures Contract (CLQ8) closed the week at 140.90. Price
finally broke above the congestion area and is moving toward the target price of
$144. There is still upside pressure being applied to
price. For price to start a retracement down from this level
it would have to go through 137 and then the first price objective would be
132. The last time price went through the entry price for a
retracement it failed to reach the first price
objective.
Momentum on the monthly
chart has carried price above the target price of 135 and now that target
price has become the entry price for a retracement down with the first price
objective for the move down at 127. The next price
objective for the move higher remains on the daily chart and then 145.20 on the
weekly chart (not shown). There is upside pressure being
applied to price at this level. It has been in the
overextended area of this chart for months now with continued divergence at the
high. There should be a break in
this parabolic rise in prices some time soon, but I wouldn?t put my money on a
short position right now. It might pay to start getting
protection for the long positions because if a real break occurs there could be
a violent downdraft. The speculators will bail in a
hurry and the end users will step aside until things settle down.
----- Original Message -----
Sent: Saturday, July 19, 2008 8:34
PM
Subject: RE: [RT] Fw: FW: *****SPAM*****
Fw: Fw:]
But your
wrong Anthony. He IS trying to sell us something. Not for $$, or for a
product, but by trying to change our way of thinking and perception by
presenting misleading, bogus and irrelevant information, so that we all end up
agreeing with him how bad things are today, and oh boy, I wish I was back
living in 1950 again. Also, if his post is harmless and can simply be
deleted if it doesn?t interest us, then you?re wrong again. If we all
agreed it was ok, and totally harmless, you then open the door to just about
any email on anything from anyone. It opens the door to massive spamming
in principle. Theoretically I could start sending an email everytime
there was an uptick in the oil price, warning you of how bad things are and
take heed. Of course it?s harmless and you could just delete it.....but I dare
say there comes a point where you say ?enough is enough? because clearly it
would be an absurd situation. In the end it provides no uselfull
information. And what is useful? Yes, there is a large subjective
element there, but for some stuff we can safely say isn?t useful.
Adrian
From: realtraders@yahoogroups.com
[mailto:realtraders@yahoogroups.com] On Behalf Of Tony
Pylypuk
Sent: Sunday, 20 July 2008 2:23 PM
To:
realtraders@yahoogroups.com
Subject: RE: [RT] Fw: FW:
*****SPAM***** Fw: Fw:]
Mes amis,
Please permit me to take a contrary view
to those expressed by hostmaster and Adrian Pitt.
Ira's message was received by me at 2:48
p.m. on Saturday, July 19, 2008.
I am not aware of any stock or commodities
markets, other than the farmers' and flea markets, that are open on Saturday
afternoon at least in North America. I rely upon you to correct me
if I am wrong.
On the assumption that I am not wrong, at
least in a broad sense, I therefore note, as an opening observation, Ira's
message could not have impinged upon the crowded cerebral space of active
traders during the trading day, except perhaps as to the purchase of carrots
and celery and used CDs.
His post was harmless. It is in the
same vein as some posts I receive from persons who are north of 70 or
80.
Ira did not attempt to sell
anything. Insofar as I can discern, all he attempted to do was to share
a feeling of ennui and angst at the predicament we find ourselves in as a
result of the actions and/or misactions of our governments over the last
half-century.
Whether one agrees with his viewpoint or
not, he is entitled to speak his peace.
Trading in carrots and celery and used CDs
will probably not be affected.
Anthony W. Pylypuk
Barrister & Solicitor
80 King Street, Box 605
Welland, Ontario
L3B 5R4
Office / Bureau: 905 735 2300
Residence / Maison: 905 734 6165
Telecopier / Télécopieur : 905 735 9230
Office Email / Courriel du bureau : awpylypuk@xxxxxxxxcom
Residence Email / Courriel de maison : tpylypuk@xxxxxxxxcom
Notice: This e-mail
contains information that may be confidential or solicitor/client privileged.
If you are not the intended recipient, any disclosure or other use of this
e-mail or the information contained herein or attached hereto may be unlawful
and strictly prohibited. If you have received this e-mail in error, please
discard this e-mail without reading, printing, copying or forwarding it to
anyone. Thank you for your kind co-operation.
Avis : Ce courriel
contient des renseignements qui peuvent être confidentiels ou soumis au secret
professionnel de l'avocat. Si vous n'êtes pas le véritable destinataire, la
diffusion ou l'usage de ce courriel, des renseignements qu'il contient ou des
documents qui lui sont joints pourrait être illégal. Il est donc strictement
interdit de les diffuser ou de les utiliser. Si vous avez reçu ce courriel par
erreur, veuillez en aviser l'expéditeur immédiatement et veuillez le supprimer
sans le lire, l'imprimer, le sauvegarder ou le diffuser. Merci de votre
aimable collaboration.
-----Original
Message-----
From: realtraders@yahoogroups.com
[mailto:realtraders@yahoogroups.com]On Behalf Of
Ira
Sent: Saturday, July 19, 2008 5:41 PM
To:
Undisclosed-Recipient:;
Subject: [RT] Fw: FW:
*****SPAM***** Fw: Fw:]
Sent: Saturday, July 19, 2008 2:48
PM
Subject: [Fwd: FW: *****SPAM***** Fw:
Fw:]
I Started
college in the spring of 1950. I got $110 a month from the GI bill and
had no problem making ends meet with rent, food (hashed at a sorority), gas,
a car and going out on dates. If you don't believe what
inflation can do compare some of these prices from a real menu of the
1950s. The Korean and Vietnam wars started the escalation and now Iraq
and Afghanistan will start the next set of inflation numbers.
The government hasn't helped with its policies as to the financial
markets, interest rates and the outrageous printing of money. It will
be interesting to see what happens next. It ain't going to be
pretty.
If any of you have doubt about what
we paid for a coke and a sandwich at Woolworths in the 1950's, here's
proof of the era we lived........and it was a GREAT ERA to live ...
And Gas..25
cents/Gallon!!!
And of course, We had no
money!!!
------ End of
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