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Oil Jumps $17/Barrel Today to $121; Is Gold Far Behind?

RichRRichR Posts: 3,841 ✭✭✭✭✭
So who said the commodity bull is dead?

But more precisely, who said the Fed is done destroying the value of the dollar?!?

Very scary stuff indeed!!!

Comments

  • Up $25 to $130 last check.
  • RichRRichR Posts: 3,841 ✭✭✭✭✭
    And gold @ $1000 isn't looking too over the top right now!
  • cohodkcohodk Posts: 18,548 ✭✭✭✭✭
    Never underestimate the power of a mania and a short squeeze. Nothing fundamental about the move. It will be down at least $7 tomorrow.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Come on now, Clark Howard said the commodity bull was over, and if your "Clark Smart" then you know its over too..image
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Never underestimate the power of a mania and a short squeeze. Nothing fundamental about the move. It will be down at least $7 tomorrow

    Yup, and just 2 weeks ago the dollar was in a longer term "bull" market by all accounts all based on sound fundamentals of course. What we're seeing now is just a dollar mania sell off during a time of panic. The dollar will be back above 0.80 in no time. All the gold-shorts are buying even more gold-shorts on this strength. Keep piling it on.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    Today is the day that all oil shorts for November have to be paid. It is panic buying today for those who got caught with their pants down.
    I still think gold is on a upswing.
  • cohodkcohodk Posts: 18,548 ✭✭✭✭✭


    << <i>Never underestimate the power of a mania and a short squeeze. Nothing fundamental about the move. It will be down at least $7 tomorrow

    Yup, and just 2 weeks ago the dollar was in a longer term "bull" market by all accounts all based on sound fundamentals of course. What we're seeing now is just a dollar mania sell off during a time of panic. The dollar will be back above 0.80 in no time. All the gold-shorts are buying even more gold-shorts on this strength. Keep piling it on.

    roadrunner >>





    Oil at $107 today. Closed at $120 yesterday.


    Cant understand why everyone doesnt grasp the concept of currency relativity.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Oil closed at $107.

    Yes, after a massive run up and profit taking. How far would oil have gone if TPTB hadn't stopped the trading on it? Possibly $140-$150. That's not market intervention right? I always thought the PPT was there to "prevent plunges" in our free markets. Did you ever see TPTB stop trading on financial stocks or the the S&P because they went up "too much" in one day (lol). Will never happen because no matter how high they go it's all good - and never from manipulation, just honest supply and demand.

    What happened to the recent cry that oil was done for - $60 here we come?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold


  • << <i>So who said the commodity bull is dead?

    But more precisely, who said the Fed is done destroying the value of the dollar?!?

    Very scary stuff indeed!!! >>



    The media is stupid for reporting that price. Anyone holding a big position to the last day of expiration is stupid. The most active contract was Nov. and that is the price that should have been reported in the news.
    Nick
  • cohodkcohodk Posts: 18,548 ✭✭✭✭✭
    If you noticed, but you obviously didnt, the previous month oil contract closed at $120 yest. Today the current contract closed at $106+ down about $3. So how could it be that it was only down $3 to 106 if yesterday it was $120?

    Must be a conspiracy!!! ROFL!!!

    I have never said gold was going to $60, but it is a great trading vehicle. And doing exactly as I predicted a month ago. I did say that it would be worth $50 if the average house was worth 50% less than today, and I will stand by that statement.

    Honestly I hope gold goes to $10,000 and I dont know why you always think I am bashing PMs. I just say what I see and I have been EXTREMELY accurate over the past year regarding PMs and currency. And all without complaining of a conspiracy.

    I stated when gold brokedown that it was dead and would make a great trading vehicle. So far it has not resumed an uptrend and has indeed been a great trading vehicle. I hope you are having as much fun as I.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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