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

To: John Pitera who wrote (9514)	5/30/2008 12:26:48 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

piteraperspectives.com for those of you that really have a bit too much time on your hands...... but I still think we have identified the top of 2008 in crude. John

To: John Pitera who wrote (9514)	5/30/2008 8:20:01 AM
From: Terry Whitman	Respond to of 33421

Yes, I saw your call. If $132 is indeed the crude top, you should definitely be tooting your horn on that. After the previous false tops we've seen: last November, July '06, and August of '05, if this is actually the one, I'll be sure and toot the horn for U guys too.-g- I'm more in the camp that we need one final sharp parabolic to really clean out the last doubters. So far, the weekly candlestick is still an inside one unless we close below $125 today- so we really can't even say there's a good start on a top yet. Anecdotally- we must be real close. Talking to my mother last night, and she was resigned to the fact that she'd be paying $5 a gallon for gas soon- And she's one of the most difficult to convince people you'll ever meet, even worse than me. -g- I noticed that my next door neighbor has started carpooling, too.. I guess the big question here (since we all know this oil bubble will burst sooner or later) is how does that affect the greater stock market? When oil prices collapsed from 1981-86, stock markets collapsed right along with crude in the first year and a half, but eventually it was very bullish for the stock market. wtrg.com