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  1. njbones1 is offline
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    Joined: Dec 2012 Posts: 269
    02-08-2016, 12:03 PM #111
    Flush $3.39

  2. njbones1 is offline
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    Joined: Dec 2012 Posts: 269
    02-08-2016, 12:06 PM #112
    Sorry $3.36 Nice pop

  3. bdp. is offline
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    02-08-2016, 12:23 PM #113
    Miraculously holding above 3.35 support!

  4. waldo29 is offline
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    Joined: Dec 2012 Posts: 197
    02-08-2016, 12:26 PM #114
    Quote Originally Posted by njbones1 View Post
    Sorry $3.36 Nice pop
    Yeah, we should hold it for today. They will make another run at it, probably in the afternoon, but it should hold.

  5. user34615145 is offline
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    02-08-2016, 12:32 PM #115
    Quote Originally Posted by bdp. View Post
    Looking like yet another day of bleeding. When will it end?
    Lately, I think pretty much everyone has acknowledged the odd correlation of oil and the stock market. "odd" because traditionally and historically they have had almost no correlation. There was a decent article in Barron's this weekend that predicted $20/bbl oil before the oil and (by extension) the markets rebound in the 2nd half of 2016.

    If you subscribe, I'd recommend you go read here: http://www.barrons.com

    If not, here are some excerpts from the article titled "Here comes $20 Oil" by Gene Epstein:

    Oil bulls, take heart. The last leg of the bear market that began in mid-2014 is probably in sight, as marginal producers fall by the wayside. Supply cutbacks should bring a rebound in the price of crude by the second half of 2016.

    But before a rebound, West Texas Intermediate crude will probably continue to fall, perhaps as low as $20 a barrel, before vaulting to the mid-$50s by year end.

    Stock market investors can also take heart. The stock indexes have been closely correlated with oil of late, moving up or (mostly) down, as the price of crude has gyrated. This perverse pattern has persisted even though the overwhelming majority of global companies benefit from cheaper crude, since they buy the refined products to help run their operations.

    It’s true that many oil exporters are in emerging market economies, and low oil prices have slowed their economic growth and put a dent in their sovereign wealth funds. Beyond this, stock traders may be subscribing to the misguided belief that low oil prices are signaling imminent global recession.

    Our expected recovery in crude by the second half of this year will, therefore, probably bring a recovery in equities. And perhaps even before then, stock traders might wake up to the fact that the bear market in oil has mainly been reflecting a world awash in black gold.

    While global weakness on the demand side has played a part in the buildup of excess supply, it has been weakness in the rate of growth, not an outright economic contraction. A further slowdown in global growth, especially from China, will also play a role, but here again, the supply side will dominate, as cutbacks in production bring a rebound in prices.

  6. dm_4 is offline
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    Joined: Dec 2012 Location: Boston, Ma Posts: 2,863
    02-08-2016, 12:35 PM #116
    Funny thing is when siri was pushing 4.15/20 not one person here was suggesting 3.50 or 3.35. Just goes to show no one has a clue. so for now...let me be the first one to say we will be going back to 4.25.

  7. MUSCLE13 is offline
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    02-08-2016, 12:45 PM #117
    Brandon 1 2 3 and 4 - If Comcast can break $60 I am calling an end to this correction. Muscle predicts!

  8. bdp. is offline
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    02-08-2016, 01:01 PM #118
    Quote Originally Posted by dm_4 View Post
    Funny thing is when siri was pushing 4.15/20 not one person here was suggesting 3.50 or 3.35. Just goes to show no one has a clue. so for now...let me be the first one to say we will be going back to 4.25.
    And I shall be the 2nd!

  9. MUSCLE13 is offline
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    02-08-2016, 01:12 PM #119
    Quote Originally Posted by bdp. View Post
    And I shall be the 2nd!
    You mean the first rwice.....

  10. waldo29 is offline
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    Joined: Dec 2012 Posts: 197
    02-08-2016, 01:37 PM #120
    Just a little update, still short. Avg is currently 4.07. Down from 4.10

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