Replies to post #7741 on *~1Best~* Market Timing & Trend-Signals

[*~1Best~*]

GOLD is trading near 890. Considering all the criticism on Pres Bush, we know that he is not like the satan portrayed in the speculative movie... rather Moses burning bush...

[*~1Best~*]

Old news re: U.S. Ship Fires Warning Shots At Suspected Iranian Boats


On old news, OIL gapped and ran.









U.S. Ship Fires Warning Shots At Suspected Iranian Boats


4/25/2008 1:40:01 PM A contracted cargo ship under U.S. military command has fired “a few bursts” of warning shots towards two boats believed to be Iranian in the central Persian Gulf, according to the U.S. Navy.

News reports of the incident that occurred Thursday have prompted oil prices to rise by more than $3, to reach $119.50 a barrel on Friday.

The U.S. Navy's Fifth Fleet spokeswoman Cmdr. Lydia Robertson said the Western Venture fired flares and warning shots when it was approached by two small boats of unknown origin, forcing them to withdraw.

The Associated Press quoted Robertson as saying that the Western Venture was queried immediately by the Iranian Coast Guard to determine its identity.

“They were able to avoid a serious incident by following the procedures that we use,” Commander Lydia Robertson said

However, Iran's state-run television station Al-Alam denied the report. The Iranian government said none of its boats were involved in the incident.

The vessel, working for the U.S. Military Sealift Command under a 65-day charter, was carrying military cargo on its way to Kuwait, Robertson said.

This is the second time in as many weeks that such an incident has taken place in the central Persian Gulf. On April 11, the U.S. patrol craft USS Typhoon fired warning shots at an Iranian high-speed boat as it approached the Typhoon in a “taunting manner.”

[*~1Best~*]

OIL ==> re: Gasoline could hit $7 a gallon in four years: CIBC

Those who like to jump on hype bandwagon.... loves crowds.


Just finished watching, "The End Times (2002)", Tim LaHaye




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Gasoline could hit $7 a gallon in four years: CIBC
Crude predicted to top $200 by 2012 on tight supplies, pushing gas higher

By Moming Zhou, MarketWatch
Last update: 5:15 p.m. EDT April 24, 2008

SAN FRANCISCO (MarketWatch) -- Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday.
Crude supplies are actually lower than some official estimates indicate, while demand is unlikely to fall anytime soon, according to a statement by analysts led by Jeff Rubin at CIBC, an investment bank. They forecast that these tighter supplies and continued strong demand will drive oil and gasoline prices to roughly double their current levels by 2012.
"It is increasingly clear that the outlook for oil supply signals a period of unprecedented scarcity," said Rubin. "Despite the recent record jump in oil prices, oil prices will continue to rise steadily over the next five years."