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« How Low Could It Go | Main | The Coming Debacle is Closer Than You Think »

Monday, January 12, 2009


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Glenn Loser Neely

I have a friendly bet with Bobby Prechter that the oil will go to 200 before Obama's Inaguration.
I also have a friendly bet wiht Von Hochberg that the Dow will go to 100 before Obama's Inaguration.
And I have an unfriendly bet with my doctor that I will be insane before I am friend of Bobby Prechter.

Does anyone wants to bet with me something?

Glenn Loser Neely


GLN : Sure. Will bet that Neely will get this major move right again as he has done consistently for quite a while

Y : Any take on metals? You think we will see new lows or are we readying for fresh impulse upside?


I bet you are already insane so will be tempted to be Bobby's friend. Man, just pull yourself together and resist that last temptation.

Anyone out there sitting next to our friend Loser, so some sense can be slapped into him before he be-friends a bonafide loser?...

...Back long on NDX


If you are in an oil ETF, such as USO in a contango, you lose money because in the rollover to the next month, the fund must buy contracts at a higher cost, meaning they buy fewer contracts. Check your prospectus. There are exceptions depending on what securities your ETF can invest in.

Glenn Loser Neely

I am a loser!

Al from Oz

Oil being the most impotant commodity on the boards, the 1300 % rally to the upside over the last 2 years showed that there was goin to be one of the greatest declines in the most important commodity for industry in history and sure enough we saw a 78% collapse in 5 months and 9 days to the $31.80 recent low. Never in Commodities history has there been been a bear market that has been completed in a single leg down. Have changed my position on Oil. With the recent volitile 54% rally to the upside and subsequent colapse in Oil price I am certain that the $31.80 Oil low will be broken to the downside.
Your right Duncan $28 Oil is possible, I was wrong about $32 Oil being the bottom.


Loser Neely,

Please tell me you bet against Neely again! Soon you'll be accessing the internet from the public library, since you won't be able to afford home service!

Ha ha ha ha ha ha!!!!!!



"Your right Duncan $28 Oil is possible, I was wrong about $32 Oil being the bottom."

Judging from the wave structure, 31.25$ oil is within reach, and is actually a good target.

If SPX is in w2 of w5 of C, i.e. about to surface for air before the dive to retest the 11-20 lows on the next wave down, then 28$ crude is very close to come on the radar. Actual target will be 25$ crude.

If the fear correlation is still in place (I think it still is), free fall in stocks means dollar and yen strength; therefore oil and gold slump.

If you can digest SPX 700 then you can understand crude at 25.

If things get bloody and messy and SPX starts seeking value at 600, then crude at 25$ is close to a sure thing.

By the way, the next price level that traders may target below 25, is Fibonacci number 21.

I certainly hope that the 700+-30 SPX price area will hold, and for the sake of those employed in the oil sector that the 25~28 $ range will hold for crude.


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