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North American Energy Partners Inc. Message Board

  • chemaes44 chemaes44 Apr 14, 2011 9:20 AM Flag

    Oil and silver look like they go up

    More thorough analysis of the charts in combo with the most recent action suggests oil was only in a minor correction. A real oil short cant be considered until oil falls below 103.44.

    I think oil goes up here at least to 108.94. If it continues past this $117 is still a go.

    silver moving past$41.31 says I should buy it.

    having said all this the market movement over the last couple of days has made me feel very uncomfortable, like crash uncomfortable.

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    • There is even the term 'rhetoric' used as a description for the latest acts of desperation to prop prices in oil.

      http://www.cnbc.com/id/42592991

      • 1 Reply to don2million
      • Sounds like Schork has as much contempt for that BOA strategist as I do. Let me throw it out there, oil could go to $40 in the next 3 months. Let the media run with that one. When I dump a couple of $100 billion (amassed from various scared dictators whose people are really angry about food and energy inflation) worth of oil on the market at 7:00 p.m. CDT one evening soon, I won't be surprised to see a $0 print.

    • Sounds stupid but, sorry I'm right so far today.

      That's the market, it twists and turns and I just interpret its movement. I know yesterday or the day before I said it broke the Feb 2011 trend downward, and the truth is it did. However, last night into this morning bulls said nah uh. If oil gets to 108.94 and runs past it by 25 to 35 cents, if I were short, i'd close it down on the ensuing pullback.

      Silver goes 41.92 and likely pulls back one last time before taking out previous highs. Right this minute, it looks to me like it will plough through that price, but that's right this minute. Logic says it should pause.

 
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