CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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To: Galirayo who wrote (6513)	11/9/2008 11:03:26 PM
From: John Pitera	Read Replies (1) of 41410

Hi G, yes it appears that near term top in crude back in May July was a little bit more than a near term top..... This has been one of those years that drives hordes or Finacial Analysts; brokers and traders off to the old timers convalescent homes. You hear stories about how people entered the stock broker/ money management field after complete wash out periods like this and they don't understand why so many of these guys / and women have all this white hair and 15 years of ageing encapsulated in their faces from having to live through and answer up to investors/clients .... family; friends about wealth destruction such as we have experienced the past 2 years. They talk about this liquidation markets first wiping out the bears... then wiping out the bulls and then taking any other still sombulent investor down for good measure..... thats what this period sure feels like. (oh yes read the post that I made that you responded to.... )back in glory days when we had liquidity and 130+ crude. I'm in Houston and we may as well have been rearranging the deck chairs of the Titanic as to debating whether 130, 134 or 140 something was going to be a turn in crude..... The take no prisoners decline in Crude has been amazing and beyond anything I expected for this year. Just shows how deleveraging of credit crushes prices of everything. John

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