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

To: The Ox who wrote (9502)	5/28/2008 3:40:00 PM
From: Terry Whitman	Read Replies (2) \| Respond to of 33421

They may well still do that, (run oil to $160). Fundamentals don't really matter much in the short run.. In fact, I'd say the odds are that we haven't seen the highs in oil just yet. BWTHDIK

To: The Ox who wrote (9502)	12/15/2015 8:09:05 PM
From: John Pitera	Read Replies (2) \| Respond to of 33421

The wild and wooly Crude Market of 2008-2009... $33-$34 is major support from back then and I have to had it to you OX you were very prescient on Crude being able to run to near $160 before they it and the entire commodity complex out at mid year. As we can see Natural Gas was at substantially higher levels back in 2008. If you want to see an excellent example of were you can get in major trouble looking for a trend change or significant rally due to a double or triple momentum divergence just look at Natural Gas RSI back in July and August of 2008...... Natural Gas was a market in a high momentum collapse in price ( as were so many markets that fall) 2008 was also the last time you saw NG in double digits ..... it had 2 years were it's price top was about $6 and otherwise it has not been able to trade north of $4..... Natural Gas is currently so depressed in price that we have to go back to 1999 to see a price this low... with prices nearly this low briefly in 2001 and 2012. JJP