Wednesday, April 23, 2008

Energy Update

Gasoline Futures to new highs-
Gold is going down and Energy market is going up? Is this a new hedge fund strategy?
Short metals, long energy?
Gas is causing all Airlines to go out of business-
Euro pulling back from record highs- Is XLE going to pull back?


Stewie on 10:05 PM said...

hpt, i hope i am wrong and gold/crude collpase here. The only good news i can give you is that the US dollar is looking coiled up and ready to breakout but the decline in gold looks corrective to me and will likely setup in a huge falling wedge pattern which means higher prices coming but we need gold to fall a little more to setup the pattern nicely. check out my blog, i'll have a chart for you to look at. i hope i am dead wrong and we see gold.crude die here. GL bro.

HPT on 10:10 PM said...

I agree,
the fact that gold has dropped this much and oil continues higher every day, is even more bullish for oil.
how many up day in a row will oil go?
15/16 days now. Maybe a hedgefund is stuck and others are trying to blow them up. Remember the natural gas trader at Ameranth. Natural gas goes to 15, the hedge fund blows up, and natural gas goes back to 5. Same shit with the futures drop in january. Guess who the most unluckiest trader in the world is that puts on these positions at the same fucking time. ME. If we don't go down tomorrow, I'm fucked.

Stewie on 10:35 PM said...

bro. Tboone Pickens got crude totally wrong and he is a crude genius. He was short from high 90s and calling a top, he took a beating in the position and decided to change his stance came on cnbc a few days ago and said he is no longer short crude and he is now net long. talk about a chnage of heart in such a short amount of time. he is calling for crude $125 now. his shorting covering alone might be driving the commodity up so much but i am sure there a lot more piggy back trades mimicking tboone pickens. it is obviously short covering going on there. there's absoluelty no reason why crude should be going so much everyday. it is a bunch of hedgies who are caught short and now are covering in a organized fashion. i am hoping you survive this and use this as a lesson.

Subscribe via email

Enter your email address:

Delivered by FeedBurner


High Probability Trade. Copyright 2008 All Rights Reserved Revolution Two Church theme by Brian Gardner Converted into Blogger Template by Bloganol dot com