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North American Energy Partners Inc. Message Board

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  • mjff mjff Apr 14, 2011 1:20 PM Flag

    Oil and silver look like they go up

    You're right so far, but these crazy markets make no sense, and can reverse in a big way for no apparent reason. We broke the uptrend, and I can't make up my mind whether the last couple of days are a bear flag, or the start of a new uptrend. The whole thing is ridiculous.

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    • This may sound a little crazy (a little conspiracy theory), but the market (oil) may be temporarily propped up to help out a constituent (BofA) balance the portfolio before supporting the GS sell call. There is a concerted media focus on the fact that the winter blends of gas are being depleted (purposely) as evidence of increased consumption and greater demand for oil. If GS really dumped their long positions, then a run up to 117 would be egg on their face.

2.65-0.04(-1.49%)Jul 27 4:02 PMEDT