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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: rayrohn who wrote (10268)	4/9/2009 10:42:31 PM
From: Galirayo	Respond to of 41549

That's a Chart that only Hugo Chavez could love. ;) "Demand Stats" out tomorrow. Think it'll Catch any Oil Bulls Flat-Footed with unexpected Volcanic Lightening Activity ?? livescience.com

To: rayrohn who wrote (10268)	4/10/2009 10:14:38 AM
From: Perspective	Read Replies (1) \| Respond to of 41549

Whoa, folks. For a 4-fold move like that (35-148) you really have to use logarithmic retracements. It's the only thing that makes sense. (The chart is log, but the targets aren't. Log targets should look evenly spaced on a log chart.) Perhaps you knew it already, but I get $60.63 for the 38.2% retracement using 10^(LOG(148.46/34.86)0.382)34.86 Given the horizontal resistance that stands there, it looks like a decent shot for a significant turn. Also would make a good wave "C" target for a flat off the December lows. Bulls aren't gonna like it, but I think the impulse off 148 says that, more likely than not, there's a brother leg down to come. Kinda spooky - perhaps Ewave is foreshadowing the wipeout leg of our Lesser Depression. Heck, I might even join you on the short side if it gets to $60... `BC

To: rayrohn who wrote (10268)	4/10/2009 10:37:28 AM
From: Galirayo	Respond to of 41549

It's quite a comprehensive Report with major revelations. lol At least it agrees with a 2010 as a recovery date. IEA sees oil demand fall in developing countries IEA cuts estimates for 2009 global oil demand on outlook for world economy Friday April 10, 2009, 4:31 am EDT Buzz up! Print.PARIS (AP) -- The International Energy Agency has lowered its estimate for global oil demand in 2009 after "much lower-than-expected" economic growth in the global economy. The Paris-based agency based its forecast on an "unusually severe recession" in rich countries, and also revised its expectations for developing countries where oil demand is seen falling for the first time in 15 years. In its closely watched monthly survey, the IEA cut its forecast for demand this year by a daily 1 million barrels to 83.4 million barrels a day -- 2.8 percent lower than last year. The IEA said that "the pace of contraction is close to early 1980s levels, with a growing consensus that economic and oil demand recovery will be deferred to 2010." In rich countries belonging to the Organization for Economic Cooperation and Development, the IEA forecasts a cut in oil demand of 760,000 barrels to 45.2 million barrels a day -- 4.9 percent lower than 2008. In non-OECD developing countries, the IEA said it has lowered its expectation for oil demand by 230,000 barrels to 38.3 million barrels a day -- 0.1 percent lower than last year. "Although small, this will be the first contraction in non-OECD demand since 1994," the agency said. Gains in oil prices in late March and early April are due to financial markets' hopes that the global economy is starting to mend, but weak economic fundamentals will limit further gains, the agency said. finance.yahoo.com