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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (5747)	6/11/2010 1:57:11 PM
From: westpacific	Read Replies (2) \| Respond to of 26251

Don't watch this video of oil guru Matthew Simmons on Dylan Ratigan if you're in the US and you're about to go to sleep. The Houston energy banker and author of Twilight in the Desert says we basically have two options: Let the well run dry (taking 30 years, and probably ruining the Atlantic ocean) or nuking the well. Barring those things, the best move would be to use supertankers to suck up as much oil as possible ahead of hurricane season, when the oil will be picked up, and will paint the Gulf Coast black. (via TheOilDrum) businessinsider.com Scary; damn scary as Simmons is the king; and using a nuke could fracture the rock and make it worse and will pollute the Gulf with radiation that fishing will be finished for centuries or more! Tell you; this stock market is finished just on this ongoing disaster; it is beyond imagination...once into the Gulf Stream loop it will also make fishing in Europe finished also...and that scenario is just months away. West

To: Rarebird who wrote (5747)	6/17/2010 9:32:19 AM
From: westpacific	Read Replies (1) \| Respond to of 26251

10688 is interesting... 1/ it retests the shoulder on this massive H and S Top ongoing 2/ it fullfills a 61.8 percent retrace off the 1 low 3/ it comes close to testing again the Dome Roof overhead at 10750, which may just spike to hit it. Then we go down below the last low for the 3 in the coming month or so. Everyone will be jumping for joy on the 50 DMA breakout and be sucked in. Or we just stop at the 50 DMA at 10614 which is close to the required 62 percent retrace on wave 2s. The right shoulder has already been formed so we do not need to go back up to its level. 10505 is the 50 percent retrace; hard to say on which she tops...if not there already. Nasty overheads; including the B Bands. Sidenote; gold has retested the Dome Roof breakdown after destroying the rising wedge last month...very close to a reversal on gold now. 1155 goes it is lights out! Do not see a fast breakdown; more like a frustrating and long drawn out rollover...we may hit this number then rebound again to the lows 1200s to form a big H and S top here as well...we shall see. West