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Post# of 148479
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ajtj99

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ajtj99

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Re: Culmus post# 22027

Tuesday, 03/16/2004 6:28:41 PM

Tuesday, March 16, 2004 6:28:41 PM

Post# of 148479
Yup, he's good alright. Here's a scary chart. West Texas Intermediate Crude. It has an almost textbook inverse H&S formation. If a double top is formed at 39.99 but rising support holds, an ascending triangle could also be in play:

http://stockcharts.com/def/servlet/SC.web?c=$WTIC,uu[h,a]maclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!...

The Inverse H&S target is about $62/barrel. The ascending triangle would be around $55/barrel.

Translation? The oil market seems to be discounting (or in this case, marking up) in anticipation of civil war in Iraq.

I looked this up because our local price jumped $0.25/gallon in a matter of hours today and I wanted to see if anything was up.

I do not recall exactly (Zeev knows for certain) how much each $1.00 increase in oil subtracts from US GDP. I think it was around 0.2%. If oil went up $25/barrel, that would subtract 5% from GDP. That's the stuff recessions are made of.

http://www.investorshub.com/boards/board.asp?board_id=1613
AJTJ's Market Pulse
Do your own DD. Void where prohibited. Observed side effects include darkening of the stool, spontaneous amputation, and death. Rosebud.

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