Tuesday, October 25, 2011
BTFD
Last chance to get on board before we go to 1400! This is the only significant dip we're gonna get this week. The market is just too strong to hold on to a short ahead of the EU summit. I expect us to keep going higher after a very brief pullback on the news. The market is set to squeeze into the beginning of November, where the laggard funds will pile in hoping for a year end rally, only to buy at the top. From a price standpoint, we're close to a top, from a time standpoint, we've still got a couple of weeks of topping left.
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7 comments:
$100 crude oil will keep a ceiling on market
Brent crude is relatively weak, that is all that matters. WTI crude market is a side show.
The fundamentals are getting worse but the crowd is still bearish... a tricky market
good post MO. crude is in fact bullish when it goes up - it keeps the credit system inflated. think we go to somewhere 1270, there funds will pile up to buy the top, as they usually like))
Crude is bullish when we are in a deflationary swing. Crude is bearish when it rises on inflationary concerns (like now) with upcoming europe paper print whoring.
WTI light sweet crude is what the United States uses. the USA is the most energy consuming nation in the world. has been manipulated down this year yes, but surely not a "side show"
WTI is not what the United States uses. It is a representation of supply and demand for crude oil in Cushing, Oklahoma, not the whole United States. Gulf coast crude oil, which is what the US market is priced at. Look at US gasoline and heating oil, they are at prices that reflect crude oil at $111, the Brent price, not $93, the WTI price.
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