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nikoschopen
2,824 posts
msg #59700
Ignore nikoschopen
2/14/2008 4:00:38 PM

I would think CEG, or any other oil-related stocks for that matter, is largely dependent on the oil futures. Right now, the March 08 Sweet Crude is up against the trendline. Will it punch through the trendline or will it backpedal from here?

Sweet Crude Oil Futures (April 2008)


johnpaulca
10,080 posts
msg #59701
Ignore johnpaulca
2/14/2008 4:30:03 PM

Niko...thanks for the chart...I am taking tomorrow off. Goodluck everyone.

-cheers

nikoschopen
2,824 posts
msg #59705
Ignore nikoschopen
2/14/2008 9:29:08 PM

Even after all this time, I still have no stomach for B.S. like these:


Wed, Feb 13, 2008: Asian stocks slide on renewed economy, credit fears
Wed, Feb 13, 2008: Asian stocks rally; economy blues ease

Granted that it's the business of these idiots to come up with excuses for why the market moved, I wish they would spit out something more rational.

nikoschopen
2,824 posts
msg #59709
Ignore nikoschopen
2/15/2008 2:47:38 PM

Although nothing is definitive, we might see a pop going into the close. If that were the case, then we could see more rallies coming throughout next week. This would be the classic "buy the dip" scenario. But since we have the long weekend ahead, it's also possible to see the market selloff just before the close. But as long as the LOD holds, the market should be on safe ground.

maxreturn
745 posts
msg #59710
Ignore maxreturn
2/15/2008 2:59:17 PM

Niko...where da heck has all the volume gone?

nikoschopen
2,824 posts
msg #59711
Ignore nikoschopen
2/15/2008 3:23:06 PM

Probably ure typical Friday preceding a long weekend syndrome. What should be noted is any sort of strength (or weakness) going into the close.

nikoschopen
2,824 posts
msg #59713
Ignore nikoschopen
2/15/2008 4:05:20 PM

There ya have it boyz (and galz). The market pushed up towards the close, refusing any selling pressure. Since there ain't any economic numbers due on Tuesday, I think the market will likely gap up.

johnpaulca
10,080 posts
msg #59714
Ignore johnpaulca
2/15/2008 4:23:33 PM

Niko...I see CEG made money for me.

nikoschopen
2,824 posts
msg #59715
Ignore nikoschopen
2/15/2008 5:01:29 PM

Way to go, JP. However, keep in mind that for oil-related stocks all roads lead to the crude oil futures, which looks shaky at the moment. As you can see from the above chart, CLH8 is going through what looks like a head & shoulders pattern. Obviously, H&S isn't complete until its neckline is taken out, but with so much volatility lately what seems likely is for the most part a foregone conclusion, Hence, should the futures fall next week, I hate to even think what could possibly happen down the road.

johnpaulca
10,080 posts
msg #59716
Ignore johnpaulca
2/15/2008 8:13:34 PM

Niko...would seasonality be figured into this since it's forward looking i.e driving season, Venezula etc.???

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