Friday, Jul 18, 2008
Oil crash starts
Market Oracle: Crude Oil Breaks Below Major Support as Forecast
Crude Oil confirmed its forecast downtrend by decidedly breaking below support of $135. The Market Oracle forecast as of 4th of July 2008 and at a price of $146, has been for an initial downtrend to support of $135, on break of which crude oil would target a trend towards major support at $110.
Posted by sold 2 rent 1 @ 09:51 AM (848 views) Add Comment
21 Comments
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1. sold 2 rent 1 said...
Oil price crash starts here
Not content with forcing a housing bubble on us, the power elite have done the "double" with an oil price crash.
Whilst oil correcting gently is OK, an oil price crash isn't that good.
1. The Mid East countries would stop buying US T-bills and make market IRs shoot up, causing more pain for the economy.
2. Hedge funds will blow up causing more bad debts for banks that will need more bailout money
This is where deflation starts.
Remember, it is your pension fund that has been heavily investing in energy/energy stocks
2. jack c said...
@S2r1 - "Remember, it is your pension fund that has been heavily investing in energy/energy stocks" - perhaps this is where the extra cost of a SIPP (Self Invested Personal Pension) has a real edge and advantage.
3. george monsoon said...
Why don't governments police stockbrokers and all the other sharks and devious greedy B****ds to stop these bubbles forming.
F*** speculators what a load of W****ers...! They should be put in jail for causing mass financial disruption...
4. Planning4acrash said...
George, its because we let them set up a fiat money system where they can print money at will. Its because we didn't learn from America's founding fathers and call for a commodity backed currency where the money supply cannot be manipulated. Its quite simple. Give the power to print money to politicians and unrepresentative corporate banks, and you give them absolute power, and absolute power corrupts absolutely.
5. Planning4acrash said...
George, seriously, harness that energy, go get others aware of the corruption, go protest, go write to your MP, write to your newspapers, give me a hand in the blogging against the nincompoops who go, oh, don't say things not said on CNN.
6. sold 2 rent 1 said...
George,
"Why don't governments police stockbrokers and all the other sharks and devious greedy B****ds to stop these bubbles forming.
F*** speculators what a load of W****ers...! They should be put in jail for causing mass financial disruption..."
For 1 reason and 1 reason only.
It IS a conspiracy.
But the sheeple who continually deny this will only realise it once they have been robbed.
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
GBP crashes, gold soars
Sheeple: OK it IS a conspiracy. Can anyone lend me a fiver?
7. rickyb said...
So which of our resident gold "experts" is going to put their neck on the block and actually make a firm prediction on gold prices, rather than just vague statements like "gold soars"?
Step up and make your single figure (not a range) gold predictions for 11/2008, 2/2009, 5/2009, and 8/2009 please.
8. debtfree said...
ok, gold prediction
Nov 2008 - $1100
Feb 2009 - $1200
May 2009 - $1300
Aug 2009 - $1350
9. shipbuilder said...
Beware of 'experts' bearing graphs. Of course, they admit themselves in this article that a 'black swan' event could throw off their predictions - so in other words - 'our graph will be correct unless an unspecified event happens that will throw it off...' In other words, their graph is b*llocks. The article referred to on the previous page is even more vague - there will be a decline back to $80 at some unspecified point in the future, he concludes. Was that really worth all the work?
10. sold 2 rent 1 said...
rickyb,
If the upleg that peaked in March was Elliott wave 3, and we still have wave 5 (from last August) to go then we could see prices hitting 1500+ this autumn.
This is the "fifth night" so anything is possible.
The last "sixth night" (1972-1992) had a gold spike in the middle of that (1980).
But the "sixth night" is a Sunday school picnic compared to the "fifth night"
There are no safe assets left.
Stocks - gone
Property - gone
oil - gone
fiat currencies - gone
11. shipbuilder said...
5. Planning4acrash said...
George, seriously, harness that energy, go get others aware of the corruption, go protest, go write to your MP, write to your newspapers, give me a hand in the blogging against the nincompoops who go, oh, don't say things not said on CNN.
George - protest and write to your MP by all means - gather support, but for god's sake don't mention the NWO because people will simply laugh at you and switch off. P4ac has proven this many times just on this blog.
As you can see, there's plenty to get p*ssed off about in the world without having to dream more up.
12. Whostolemyendowment said...
The high oil price is self defeating......high price = lower demand = downward price pressure as suppliers / investors sit on too many barrels going nowhere OR put it another way, manitained high price = economic slowdown = ressession = lower demand = downward price pressure.......oil needs to find a sustainable market level, not be driven ever higher by speculation and hedging - otherwise welcome to the stoneage. By the way - I haven't driven my car for a week - and still got a couple of gallons in the tank - so my demand has dropped off a cliff edge.
13. rickyb said...
s2r1,
OK so your firm prediction is $1500 for Nov 2008?
How about the other dates I mentioned?
14. Whostolemyendowment said...
Hi S2R......turnips anyone? Contact Baldrick's Dubai Investments for more info.
15. rickyb said...
I'm disappointed. Our resident gold "experts" keep banging on endlessly about how we should all be investing on gold, and yet only one of them has the courage to make any firm unconditional predictions.
16. shipbuilder said...
6. sold 2 rent 1 said...
"George,
"Why don't governments police stockbrokers and all the other sharks and devious greedy B****ds to stop these bubbles forming.
F*** speculators what a load of W****ers...! They should be put in jail for causing mass financial disruption..."
For 1 reason and 1 reason only.
It IS a conspiracy.
But the sheeple who continually deny this will only realise it once they have been robbed.
Sheeple: It is NOT a conspiracy6. sold 2 rent 1 said...
George,
"Why don't governments police stockbrokers and all the other sharks and devious greedy B****ds to stop these bubbles forming.
F*** speculators what a load of W****ers...! They should be put in jail for causing mass financial disruption..."
For 1 reason and 1 reason only.
It IS a conspiracy.
But the sheeple who continually deny this will only realise it once they have been robbed.
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
GBP crashes, gold soars
Sheeple: OK it IS a conspiracy. Can anyone lend me a fiver?
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks
GBP crashes, gold soars
Sheeple: OK it IS a conspiracy. Can anyone lend me a fiver?"
Now I wonder that if you REALLY wanted to knock all of this on the head, if you REALLY wanted to help your fellow man, warn him of the pain to come, if you REALLY wanted to advise someone what the best way would be to stop this madness, perhaps you might say - well, stop paying tax. You might say, stop working and live off the dole. You might say, stop relying on money so much.
In fact you might make a number of suggestions that, if done en masse as a protest, would bring the government to its knees in days, with nothing to guarantee the banks.
On the other hand, if you simply wanted to have your ego stroked by being proven right in your predictions, AND seek to make a load of cash for yourself into the bargain, you might, say, invest in gold.
And hey, the more people you 'warn', the more people get into gold, driving your stake up! Quiiiids in!
17. nooneo said...
.....yawn....
"Sheeple: It is NOT a conspiracy
Mr Darling: Another blank cheque from taxpayers to the banks"
It is a wee bit childish to keep this repeating up
18. malct said...
as shipbuilder insists on refering to the NWO here's an attempt at restoring rational debate.
I have in front of me a book
RECOVERY by Sir Arthur Salter KCB dedicated to Viscount Cecil of Chelwood.
front cover:-
This book is an attempt to picture for the general reader the presentsituation
in world affairs, and to suggest some main roads to that recovery for which all the world is waiting.
There never was a time when so many people wished to understand the situation,
and to understand it as a whole.
The ensuing months will see decisions taken which, for good or ill, will affect the welfare
and prosperity of each one of us.
The book is in four parts. Chapter 2 of part four is entitled
"A NEW WORLD ORDER: OUR SYSTEM REFORMED AND TRANSFORMED"
A stable currency - A reformed and regulated credit system - Stable and sane commercial policies etc etc
although I never refer to NWO issues myself, I fail to see what the problem is for others.
RECOVERY was published in 1932
Tell me, why is it taboo to mention something which used to be commonplace and why are some people unable to accept that conspiracies do exist and that theories can develope into possibilities, possibilities into probabilities, and probabilities into accepted fact?
The Descent upon England in and around 1688 and the establishment of the Bank of England in 1694 together with the introduction of the interest baring national debt to fund William's war, are clearly conspiracies. Why should devious, lying, greedy toerags be any different today? Why get emotional about it? Is it fear?
19. shipbuilder said...
Thanks, malct, for making my point for me.
20. malct said...
shippy, so glad we agree at last, welcome home.
21. Planning4acrash said...
NWO will be ok for people to discuss once its been exposed. It can only occur in the darkness. They may bulk here, but then they will meet a trusted friend who mentions it. They are conditioned to avoid it by repetition in the news and hollywood, and can be deconditioned by hearing the truth from others. It is a bereavment process knowing that the structure you rely on is evil, so it takes time. The only way is to talk about it as much as you can.