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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (129631)	2/15/2006 10:16:14 PM
From: Henry J Costanzo	Respond to of 209892

<<..... ED........sigh...are we going to go through this again?.>> NO....never again.....cuz I'll never mention ED again...it can go the way of the LD unicorn in my bestiary,,,,gg BUT it WAS IMHO a TA bearish rising wedge..of some importance...beginning waayyy down there below 800...gg And given the orthodox count, I suppose you would refuse to label the October-December wave as impulsive...which would leave me with no option but to doff my EW hat..once again...and return to TA...... ....where, btw, you will have noted $XOI price action yesterday and today undercutting a rather important UT line through the Oct and Dec lows....A No-NO requiring IMMEDIATE repairs....

To: Shack who wrote (129631)	2/15/2006 10:16:56 PM
From: skinowski	Read Replies (4) \| Respond to of 209892

I'd just like to note that today Oil was trading at the same price as in the spring of 2005. It went literally nowhere for almost a year... and that is while the perception seems to be as if the black stuff is in the midst a parabolic rally. Interesting. All this worrying may in the end turn out to be pretty bullish ..... ;) While the commodity sat in place, many stocks certainly did go parabolic - and probably frothy. Maybe the best trade at this time would be to go long oil and short the oil services.... except that this strategy would have been exquisitely painful and impoverishing during the many recent months... g/ng