All articles are barbage. They just add volatility & confuse
I concentrate on short term turning points only.
I agree with you. The public pension is the biggest problem in Greece. Also, some US cities went broke for the same reason....It is a lot of political in nature.
Since 2010, EU tried moving Greece debt from private to public institions. Nothing has changed about that country.
Time is up & they must pay their bills or go broke.
Fred, I think $30 WTIC is possible if Russia, China, Greece, Portugal,
Puerto Rico, etc...all go broke.
I don't know what's going to happen but I'll wait until the dust settles.
The weekly chart should bottom & that will be the time to go long.
Front month is down $0.90 right now.
I'm on the other side of the world & seeing Greece & Puerto Rico
going broke in front of my eyes.
Saw it coming but couldn't believe in my own doomsday predictions.
Europe market will open in 2 hrs. It's going to be a long day.
Crude usually dips after Memorial Day....You short when the MACD
goes below zero-line on the daily chart & stays below it for a long time.
Hope that helps.
June-05(Fri) is a big date. OPEC meeting in Vienna &
deadline for Greece to pay IMF. Also, OPEC & IEA
monthly reports on Jun-10,11...
Thinking WTIC to $52 - $50 area soon. Bit hard to
tell right now. GLTU.
There were hydrogen cars even in the 70's.....but Toyota is
the one that is mass marketable....it is called Mirai.
The only remaining problem is how to make hydrogen cheaply
& that is under current research. It can be done in a few more
It was a very bearish report......OPEC fighting for market share,
not good for crude price.
Hecht thinks crude is going to $50 near term.
His articles are on Seeking Alpha & quite accurate in
the past. He seems honest to me.
As for me, I'm a bit confused about direction. I'm all
cash & just looking.
If job #'s tomorrow comes strong, USD will rise &
crude will drop like a rock.
Luck I sold everything on Weds. I'm waiting patiently
for next entry point.
Took profits yesterday...all cash now.
Thinking it will move sideways & then down to
I'm interested in refiner input & crude production #'s too.
I won't be surprised if wtic rose to $80's during
summer peak before a serious correction.
Took time to break resistance of $59....that should be support from
Thinking wtic will be about $80 to $90 by EOY.