damn cnbc.... I turn it on, and the market is down 171.... I'm like... damn I was right the market is open....
I turn on my ticker, and sure enough.... No... cnbc can't run their ticker without giving a dow reading, and they give us fridays
Oil hitting land fall, Cat 2, and oil is 111 with a low of 110.60.
50/50 it breaks 110 tomorrow
Dollar Euro testing
1.4584
You know... If most the traders went home "Flat" on friday.....It tells you a lot about the "Real price of oil" as it reverted to it's "mean" at 115 with fewer speculators........ One could say that some of the refiners and proper hedgers, could have been willing to pick up contracts at slightly higher than "Fair value"
I think What I'm saying is that there is a chance that 110 actually is a floor in oil. but the more time tested...... bla bla bla
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Monday, September 1, 2008
Goodness
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