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

To: John Pitera who wrote (9473)	5/22/2008 4:04:18 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 33421

John/Falcon, Can one of you translate that oil top prediction into a chart? I'm still under the belief (perhaps mistakenly) that psychological resistance is $150/bbl. Would be curious why $132 would be considered the top. Hawk

To: John Pitera who wrote (9473)	5/22/2008 5:35:55 PM
From: nspolar	Respond to of 33421

Is The Fed defending the dollar here? These guys may seem stupid at times, but they are far from idiots. What is the lesser of two evils, a crashing dollar and runaway commodities/gold, or a falling and even crashing market? If I were in their shoes I would take the falling markets, vis a vis a huge fall in commodity prices. Their comments of yesterday came as a bit of a surprise. My first thought was they made them to furnish protection to the dollar. Next time around they will lose, on all accounts. But I think that is a bit further down the road. Imho.