Dear Readers, OIL may yet reach the 5th support at 42.19 today! HA.... Good Trading
OK, this is from BLOOMBERG.
By Wendy Pugh and Yasumasa Song
Jan. 18 (Bloomberg) -- Oil will resume its march toward $100
a barrel after a ``correction,'' said Jim Rogers, who predicted
the start of the commodities rally in 1999.
``I'm just not smart enough to know how far down it will go
and how long it will stay, but I do know that within the context
of the bull market, oil will go over $100,'' Rogers said in a
Tokyo interview. ``It will go over $150. Whether that is in 2009
or 2013, I don't have a clue, but I know it's going to happen.''
Do not get me wrong, I love this man I learned a lot from people like him and himself in particular. I would nvertheless like to say the following:
Bill Rogers is a genious, of course. One becuase he was comanager of the first hedge fund ever "quantum" with Geroge Soros and two he never says when. So , he is safe after 100 yeras when OIL is 150 people will say he was a genious. Meanwhile I had to predict that at $80 OIL was to be sold. Exactly at the date and at the price. August 3. 2006.
Do you really think people after many months/years will remember anything inside this article. No... AHA... but they will remember perfectly the title "oil will go over $100,'' Rogers said "
Good Trading
4 comments:
boris...expect a break of $6 on nat gas today as well
Dear Curt, We advised to short or otherwise get out of the OIL/XOI two times, publicly here and at www.safehaven.com. We could have been lucky, but that would be a too much coincidence. Nevertheless we could be wrong one day. So, your input extremely valuable to keep us honest. Good Trading
Hi Boris,
Referring to your comment on Pressure, do you think we are getting the break down today that has been missing to validate it? What are your thoughts. Thanks?
Dear Fox, we definitely are not having a breakdown today. We have nice down move in QQQQ, but it does not even "eat" the gains of last week yet and DJI and SPX are not even moving down or little down. This is not how the breakdown looks in my world and I think you know in your long and famed experience that this is not a breakdown yet. You and I will now immediately when we see a breakdown. It will be an accross the board thing with big volume and and the CYAN line will jump into stratosphere. Good Question, Dear FOx And good trading to you.
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