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psalm
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Joined: 12 Nov 2011
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Post: #4951  Posted: Thu Sep 06, 2012 11:12 am Post subject: |
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Markets are looking like a bit undecided on the direction from here. Current rate is around 5227. The low made as of now is around 5218 while the high is around 5231. That means trading in a range of just 13 points  . In my opinion, the trend is clearly on the downside. But today, we may see some buying from the lower levels if we hold 5190 levels, at least on a closing basis. Even if we see any bouncebacks, it will be pretty difficult to break above 5280-5291 range, I feel. If we're able to break above this range there is considerable resistance around 5306. So, overall the situation is not conducive for buying, especially for positional LONGs, I believe. In my opinion bounce backs, IF ANY, could be the last opportunity to exit LONGs or to create fresh SHORTs at higher levels. Anyway, let's wait and see what the market has in store for us  |
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psalm
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| Post: #4952 Posted: Thu Sep 06, 2012 11:19 am Post subject: |
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| apka wrote: | Saudi Arabia May Run Out Of Oil To Export By 2030
A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years. A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years.
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buy saudi arabia puts 
does any1 actually has ever made an official estimate when our natural resources will get exhausted they have to someday? |
http://www.businessinsider.com/15-countries-with-the-biggest-oil-reserves-2012-4?op=1 |
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apka
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| Post: #4953 Posted: Thu Sep 06, 2012 11:19 am Post subject: |
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Posting a chart after a long time:
[1] We have stopped at a crucial juncture yesterday and are now trading between the belt 5218-5226 expected to provide support.
[2] We are also new oversold zone.
[3] We have been making daily new lows, and lower highers as seen in the chart. The high point now comes at 5245, a close above 5250 will mean an immediate cease to daily falls. Next trend change expected only above 5315. It will again become buy in dips with new low SL 5215 spot if 5245 breaks and we close above it today.
[4] Also mentioned 20ema has crossed over 50ema on weekly charts this has happened after a long time and I consider it to be a bullish sign. Let us see. |
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apka
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| Post: #4954 Posted: Thu Sep 06, 2012 11:26 am Post subject: |
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| psalm wrote: | | http://www.businessinsider.com/15-countries-with-the-biggest-oil-reserves-2012-4?op=1 |
Thanks sir.. thats a relieve of some sort |
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psalm
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| Post: #4955 Posted: Thu Sep 06, 2012 11:29 am Post subject: |
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| apka wrote: | | psalm wrote: | | http://www.businessinsider.com/15-countries-with-the-biggest-oil-reserves-2012-4?op=1 |
Thanks sir.. thats a relieve of some sort |
but wait.....the global consumption is not gonna go down....it can only increase because of emerging markets like india and china....so, will it last that longer???...... |
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apka
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| Post: #4956 Posted: Thu Sep 06, 2012 11:38 am Post subject: |
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| psalm wrote: | | apka wrote: | | psalm wrote: | | http://www.businessinsider.com/15-countries-with-the-biggest-oil-reserves-2012-4?op=1 |
Thanks sir.. thats a relieve of some sort |
but wait.....the global consumption is not gonna go down....it can only increase because of emerging markets like india and china....so, will it last that longer???...... |
ohh  |
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apka
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| Post: #4957 Posted: Thu Sep 06, 2012 1:16 pm Post subject: |
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| apka wrote: | Posting a chart after a long time:
[1] We have stopped at a crucial juncture yesterday and are now trading between the belt 5218-5226 expected to provide support.
[2] We are also new oversold zone.
[3] We have been making daily new lows, and lower highers as seen in the chart. The high point now comes at 5245, a close above 5250 will mean an immediate cease to daily falls. Next trend change expected only above 5315. It will again become buy in dips with new low SL 5215 spot if 5245 breaks and we close above it today.
[4] Also mentioned 20ema has crossed over 50ema on weekly charts this has happened after a long time and I consider it to be a bullish sign. Let us see. |
spot 5245 broken, falling channel of lower highs broken, now yesterdays low need to remain intact to stop the falling trend. |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #4958 Posted: Thu Sep 06, 2012 1:28 pm Post subject: |
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| apka wrote: | | apka wrote: | Posting a chart after a long time:
[1] We have stopped at a crucial juncture yesterday and are now trading between the belt 5218-5226 expected to provide support.
[2] We are also new oversold zone.
[3] We have been making daily new lows, and lower highers as seen in the chart. The high point now comes at 5245, a close above 5250 will mean an immediate cease to daily falls. Next trend change expected only above 5315. It will again become buy in dips with new low SL 5215 spot if 5245 breaks and we close above it today.
[4] Also mentioned 20ema has crossed over 50ema on weekly charts this has happened after a long time and I consider it to be a bullish sign. Let us see. |
spot 5245 broken, falling channel of lower highs broken, now yesterdays low need to remain intact to stop the falling trend. |
Yesterday's low is an important level...no doubt about that....now let's see how far market can go from here....i wont be surprised if we see the market testing 5280-5290 levels again.....there is good chance for that.....anyway, let's wait and see...  |
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psalm
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Posts: 5368
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| Post: #4959 Posted: Thu Sep 06, 2012 1:33 pm Post subject: |
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| 5257 is the immediate resistance...above that 5274 could be tested....current rate is around 5252 |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #4960 Posted: Thu Sep 06, 2012 1:35 pm Post subject: |
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| apka wrote: | | apka wrote: | Posting a chart after a long time:
[1] We have stopped at a crucial juncture yesterday and are now trading between the belt 5218-5226 expected to provide support.
[2] We are also new oversold zone.
[3] We have been making daily new lows, and lower highers as seen in the chart. The high point now comes at 5245, a close above 5250 will mean an immediate cease to daily falls. Next trend change expected only above 5315. It will again become buy in dips with new low SL 5215 spot if 5245 breaks and we close above it today.
[4] Also mentioned 20ema has crossed over 50ema on weekly charts this has happened after a long time and I consider it to be a bullish sign. Let us see. |
spot 5245 broken, falling channel of lower highs broken, now yesterdays low need to remain intact to stop the falling trend. |
Yes market is looking strong but most of it is on the back of the ECB news and further rate cut,
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apka
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| Post: #4961 Posted: Thu Sep 06, 2012 1:52 pm Post subject: |
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| taxmann50 wrote: | Yes market is looking strong but most of it is on the back of the ECB news and further rate cut,
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yeh meeting for unlimited bond buying approval today .. I dont know whether to be scared from it or be happy... solution to print / generate unlimited money sounds disturbing. |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #4962 Posted: Thu Sep 06, 2012 2:02 pm Post subject: |
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| apka wrote: | | taxmann50 wrote: | Yes market is looking strong but most of it is on the back of the ECB news and further rate cut,
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yeh meeting for unlimited bond buying approval today .. I dont know whether to be scared from it or be happy... solution to print / generate unlimited money sounds disturbing. |
Basically its like printing notes to buy own debt, from one had to another, no real impact but a way to boost artificial confidence and shift todays disaster to tomorrow. Some people will make money out of it and most likely the people who already have lots of money...
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4963 Posted: Thu Sep 06, 2012 2:11 pm Post subject: |
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| taxmann50 wrote: | | apka wrote: | | taxmann50 wrote: | Yes market is looking strong but most of it is on the back of the ECB news and further rate cut,
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yeh meeting for unlimited bond buying approval today .. I dont know whether to be scared from it or be happy... solution to print / generate unlimited money sounds disturbing. |
Basically its like printing notes to buy own debt, from one had to another, no real impact but a way to boost artificial confidence and shift todays disaster to tomorrow. Some people will make money out of it and most likely the people who already have lots of money...
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read a joke somewhere....about the greek bailout
a greek goes to a restaurant....after having hell lot of food....telling the waiter that....Germany will pay the bill..... |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #4964 Posted: Thu Sep 06, 2012 2:23 pm Post subject: |
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| psalm wrote: | read a joke somewhere....about the greek bailout
a greek goes to a restaurant....after having hell lot of food....telling the waiter that....Germany will pay the bill..... |
Sam: I love a joke but why is it a joke? Greece took billions in loans to buy food, other consumption items, build roads and buildings of no commercial value and now dont want to pay the bill! Prakash Holla |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #4965 Posted: Thu Sep 06, 2012 3:09 pm Post subject: |
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| prakash, in that case it is a cruel joke! |
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