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  • ericvondr1 ericvondr1 Mar 17, 2005 4:39 PM Flag


    I saw that link...they didn't say they would implement that 500,000 barrels immediately though...could go higher before they do it

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    • That is the way how traders react to news. I think it is a prefect time for them to take some profit after a huge run in past two weeks. When they actually starts increase the production, it could be a time to spike another round of rally in oil price which will bring it over $60 mark! Just like what it did yesterday and today. The overall trend is up since the demand is high and will keep high for a while. But nothing will going straight up, there is always dips and consolidations along the way. That is why I said �there will be a brief dip in the morning�, only a brief dip, not a trend change. Both ABLE and GEOI will hit new highs again and again like I said yesterday, I am just trying to maximizing my trading gains. That�s all.

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