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S&P 500
5,537.02
(
0.51%
)
US TECH 100
19,634.80
(
0.80%
)
Dow Jones
39,308.00
(
-0.06%
)
Brent Oil
86.73
(
-0.21%
)
Bitcoin
58,598.72
(
-2.60%
)
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ItsAllCyclical

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Re: opnion post# 40476

Thursday, 06/12/2008 2:46:45 PM

Thursday, June 12, 2008 2:46:45 PM

Post# of 77456
Oil firmed at the same time as gold. The longer oil stays above 125-130 the better the odds for a spike to 150+. That should take gold back over 900 in sympathy I suspect. Still feel that gold needs more "refreshing" though before the next assault on $1000+ again.

Until there's more demand destruction in the emerging markets for oil I suspect it'll remain stubbornly high and corrections will be brief in the ST.

A spike to 150+ may set the stage for a bigger $40-50 correction regardless though.



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