United Airlines Holdings Inc (UAL)

[bowonwing]

Oil <$120, maybe. Sound crazy right now, I know. But read on:

S&P's Energy chart (XLE) closed at $80.70 on 7-10-08 and has a bearish price objective of $69.00.
AMEX oil chart ($XOI) closed at 1,404, bearish PO $1270.
CRB Commodity Index ($CRB) closed at $448, MA(50) 435, (200)385.
Take a look at these charts at StockCharts.com and tell me what you see.

First oil needs go <$131.
If, if oil goes <$120, the bull market in oil MAY be over.<br />
Way? How about a world wide slowdown/recession, in which oil consumption MAY slow down. What until the Olympics are over at the end of August.

Caveat: Middle East, e.g. Israel-Iran conflict- ALL BETS ARE OFF, oil will probably soar back to >$140++, which is what happened today, 7-12-08. Yes there is HIGH risk in projecting lower oil prices.
Do your own DD, GLTA.<br /> P.S. I am a UAL baby (at 51! hah). Both of my parents worked for the "old" UAL. In fact my father worked for UAL for about 35 years before his retirement. They met and married in Honolulu, where I was born in 1956 (and got divorced when I was less than 2 yrs old), at the early dawn of the "jet age."