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THE BLACK GOLD WATCHER (copyright 2006)

THE BLACK GOLD WATCHER'S COMMENTARY FOR FEBRUARY 17, 2006.














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THE BLACK GOLD WATCHER’S COMMENTARY FOR FEBRUARY 17, 2006.

 

ANALYSIS OF BLACK GOLD!

Crude Oil has met buying that has overwhelmed the shorts. Today’s close (2/17/2006) was very strong, indicating that the market is going into a short-term trading range. The locals took the opportunity to "hunt stops", forcing the weakest shorts out of the market.

The "stop hunting" was effective, as it revealed the lack of new, committed selling!.. The Commercials "may" have begun to snap up the "bargains".

This has altered the immediate outlook for Crude Oil, and forces the traders to reassess

this market’s dynamic.

Crude Oil has taken a hard setback, and it’s going to take a little time before the Main Trend asserts itself.

 

Subscribers to THE BLACK GOLD WATCHER (copyright 2006) have already been issued the appropriate instructions to capitalize on this change.

This week’s episode of Will the Oil Disappear? moved to scene 27 million, with the subplot suggesting that the US is now going to blow up it’s oil supplies and create complete havoc in the Arab world, while George Bush has just given an Arab controlled company the management of 6 major US ports.

http://www.breitbart.com/news/2006/02/16/D8FQEAHO8.html

 

This makes total sense to the trolls that create the news!

The rhetoric about the US attacking Iran is being touted hard by the media, and this fear is also weighing on the trader’s psyches. No one wants to be short Crude Oil in the event of an attack on Iran.

 

 

 

PITAGORAS INTERNACIONAL SA. Onlypill@cox.net http://onlypill.tripod.com/theblackgoldwatcher
















Don't try to buy at the bottom and sell at the top. It can't be done except by liars.
Bernard Baruch


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