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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (9448)	5/21/2008 9:07:44 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

from another board....i disagree, I expect the crude market to hit a 6 to 9 month price high with the forward futures prices even higher... how else do you define truly bullish commitment, not just to the spot month but to the futures curve going forward... they have to be higher than the front month.... that's my analysis for a market in a parabolic rise..... and exponential type blow off for the year. I would agree with you the in a less emotionally charged environment you would see the forward strip selling below the greatest contract open interest nearby month. And I my viewpoint is we saw that exact situation 4-6 months ago when the nearby contract was at new all time highs but the forward contracts where working their way down to a 20 dollar discount as you got 5, 6, 7 years out from the nearby spot month. John just my 2 cents.... those of you that have not followed the forward curve of crude for that long or at all should take a real long solid look at the way forward prices are higher than the nearby greatest open interest spot month. THis is a really rare, rare occurance and all of us can pick up some valuable market knowlege by the way this situation unwinds. John