Experts sure oil will go to $150 or $50

Ted Rhodes/Canwest News - Service Lights glitter as the sun sets on Syncrude's upgrader plant at the oil sands project north of Fort McMurray.

CALGARY - "Is the bank bailout a boost or a drag for oil prices? Depends whom one asks -- and on one's time horizon." Claudia Cattaneo, Calgary Bureau Chief, Financial Post, With Files From Bloomberg News






This clears things up nicely.

Click on the read more icon for the full Finacial Post story.

read more digg story

Market Meltdown!!!

Sorry, just thought I would add some fuel to the flames. Actually I was part of the solution today as I was not selling anything, in fact I was buying stock today.

However in the crude oil market I was selling.

We broke $90.00 today and I don't see a floor anywhere, so stop asking me how low will crude oil go.

Daily Crude Oil Chart (click on charts to view)


13 Tick Crude Oil Renko Bar Charts

No More SNL Video Posted

Ok just one more time.

Congress Passes Historic Bill.... Yawn

"Dang, the market was supposed to go up.
We can't have a recession, we don't want a recession, things are supposed to go up, they always go up, why aren't they going up?
Stupid economy." American Politician

Ok maybe it's more of a paraphrase. :)

The only quiver left in the U.S arsenal are interest rate cuts, 2.00% left to go until they hit zero.

Then what?

On the brighter side we now see survivor banks (Citibank & Wells Fargo) competing over a non survivor bank (Wachovia). This is a good sign, in fact this is how capitalism is supposed to work.

The strong eat the weak.

Crude oil had some nice moves today. I got stopped out of the first one and will have nightmares over that one all weekend. Caught some cheese on the others and had a nice day.

13 Tick Crude Oil Renko Bar Charts (click on chart to view)

I Found John Galt!

His name is Thomas Barrack Jr., founder, chairman & CEO, Colony Capital LLC. In my opinion this man has the most intelligent information I have heard on the subject of the American credit crisis.

This is a must see, so take the time and watch this.

I don't have video that I can embed, so click on the post title, or copy and paste the link below.

http://watch.bnn.ca/squeezeplay/october-2008/squeezeplay-october-2-2008/#clip98221

The crude oil trade is getting close to our recent lows, if we breach $90.00 things could get interesting.

Daily Crude Oil Chart

Floored, Standing in the Twilight of Open Outcry

I'm looking forward to the release of this film, coming sometime in 2009.

The film shows the action on the trading floors and discusses the pending demise of the open outcry trader as electronic trading takes over.