Dan S1

Looks Like It's Time to Buy Oil

I believe the bottom is not in yet for the petroleum energy complex. Many people thought $40.50 was the major low, but it is not according to my technical analysis. However, we can still rally up to $55.98 and crude oil will still be in it's major downtrend.

Continue to sell strong rallies.

Support for Crude at $111?

I agree that this energy rally is a retracement rally of the main trend which is still down. I use technical analysis without using any technical indicators and this is what it's telling me. I'm still expecting lower prices by end of year 2008.

On Oil and Its Manipulation

blah-blah: I respectfully disagree with you. There could be speculation on the short side for the early 90's and it caused commodity prices to fall significantly, so there it had a positive effect on the economy. Was it a problem then?

Also, speculation does not cost everyone. For me to buy a contract, someone else has to sell me a contract at the same price. If I lose, the other side of my trade wins. So there is a winner and loser (excluding commissions and fees).

You just don't want to have the other side where commodity prices rise significantly.

I have the same right as you do to speculate in any market I wish.

On Oil and Its Manipulation

If I can't speculate in the energy markets, then to be fair, no one should be able to speculate in the equity markets or at the casinos.