Comments on: Crude Oil = $81

By: frankinomaha

frankinomaha — Thu, 22 Oct 2009 16:16:47 +0000

Oil. $90.50 is the 50% retracement of the $148 high to the $33 low is. The 61.8% retracement is $104.70. Then could we see another leg down???

Is there an annotated chart of oil? Could I use a chart of oil in terms of the Euro as a quick and dirty substitute for constant $US?

By: Mark E Hoffer

Mark E Hoffer — Thu, 22 Oct 2009 05:12:13 +0000

Ventura2012,

what kind of upside target do you have for AAPL?

http://www.techcrunch.com/2009/10/21/google-to-partner-with-ilike-and-lala-for-new-music-service/

By: ben22

ben22 — Thu, 22 Oct 2009 03:21:42 +0000

@NCT,

the way I read that post it was for profit, not protection, puts on lots of paper aren’t exactly pricey right now, so there is a greater profit to be had using puts vs. the ETF’s imo.

By: Winston Munn

Winston Munn — Thu, 22 Oct 2009 01:25:40 +0000

Must take a shitload of oil to harvest all those green shoots.

By: Ventura2012

Ventura2012 — Thu, 22 Oct 2009 00:57:05 +0000

Harry I will buy all the AAPL you have to sell. AAPL has plenty of room to run. Now WFC on the other hand..sold to you.

By: MRegan

MRegan — Wed, 21 Oct 2009 21:46:41 +0000

DeDude-

The most galling thing is that people WANT to work, to contribute, to build, but if the superstructure is designed to thieve present excedent value AND all future excedent value, then, hell, it ain’t much of a party, is it?

Now how about that Tahoe-Vespa Credit Default Swap- she’s a beaut!

By: DeDude

DeDude — Wed, 21 Oct 2009 21:21:18 +0000

MRegan; yes deflation in what we own, and inflation in what we need. Those bastards sure know how to fock the middle class ;-)

By: NiceCriticalThinker

NiceCriticalThinker — Wed, 21 Oct 2009 21:17:09 +0000

Hi Ben,
Would you mind sharing the reason that you believe puts is better than say short ETF? They both have time decay and leverage, right?

Thanks a lot!

Ben22 says:
fwiw, if you want to hold for a few weeks buy puts, not an ETF.

By: MRegan

MRegan — Wed, 21 Oct 2009 21:13:57 +0000

TBT was a buy yesterday. QID as well. I noted on Thursday last that BB&T was going to get kicked in the kidneys- has since moved from 28s to mid 25s. More to come. CRE is a weak flank there, IMHO, DYODD.

On a bright note, CWV! Also, some people are looking at LCC (Lumina Copper). I have heard of calls for 3.50 Cu in short order. Function of the dollar’s descent.

How about demand destruction and price inflation! Wow. Anybody want to trade a Tahoe for a Vespa?

By: Mark E Hoffer

Mark E Hoffer — Wed, 21 Oct 2009 21:04:06 +0000

HW makes a good point, today’s Market action was Ugly.

There’s been mucho Air blown into these Index levels, any Longs are right to be nimble..

Also, stop-losses can get blown by, Puts, on the other hand, not so much..

we should remember, as this Oil print is alluding to, Too many ‘Dollars’..