Replies to post #37128 on Short Term Trading Member Forum

[SilentOne]

hi techcharter,

Actually I see crude likely to continue the dump into its ultimate low for the year in the next 6-7 days. These cycles and this phasing has been working like a charm for some time now.

http://www.traders-talk.com/mb2/index.php?showtopic=88821&st=40&start=40

cheers,

john

[BlissBull]

Congratulations techcharter, that was a very timely prediction...


Oil extends gains as inventories show surprise decline
By Moming Zhou
Last update: 11:09 a.m. EST Feb. 19, 2009Comments: 23
NEW YORK (MarketWatch) -- Crude-oil futures extended gains Thursday, rising nearly 6% after data showed a surprise decline in U.S. inventories. Crude oil inventories excluding those in the Strategic Petroleum Reserve fell by 200,000 million barrels in the week ended Feb. 13, the Energy Information Administration reported. Most analysts had expected a buildup of about 2 million to 4 million barrels. After the data, crude for March delivery jumped $2, or 5.8%, to $36.62 a barrel on the New York Mercantile Exchange. It was up less than 3% before the data. Gasoline inventories rose by 1.1 million arrels and distillate stockpiles fell by 800,000 barrels, the EIA reported.

[DowDeva]

Techcharter,

What is the wave of the next larger degree? Can you provide a chart?

Deva

[Xplosivestocks]

How high does OIL go on this spike?