Tuesday, August 02, 2005

OIL GO FIGURE

http://stockcharts.com/def/servlet/SC.pnf?c=$wtic,P

$83 Price objective. First is getting to the $63 box, then look out.

Been overbought on and off for a year and a half, but almost every chart I pullup screams OIL bull market.

WE got Cramer screaming it, Wall Street screaming it, the oil stocks screaming it, seems like a NO BRAINER right?

Chinese demand guarantees HIGHER prices right? or so it would seem.

STILL looking for that intraday rise and reverse, this rally is really feeding on itself.

I still think the bar doors swing open, and the bulls line up against the reality exposed in the coming job report.

I am verey alone in calling for a ghastly miss, but I stand by it.


D

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