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05-21-2008, 09:29 AM
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Posts: 1,606
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Quote:
Originally Posted by Jamie Saettele
Watch USDCAD closely down here
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Thanks for the heads up, Jamie.
I am already long USDCAD.
If oil is topping today indeed, it will put additional pressure on CAD, pushing the CAD down (meaning USDCAD up), so it all makes sense when you put it in perspective.
Mike
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05-21-2008, 09:37 AM
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Quote:
Originally Posted by diver
Mike,
The other thing is if Jamie's USD/CAD count is correct (thanks Jamie) that would also "fit" nicely with a big drop in oil and gold.
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Right on.
This why they call it "commodity currencies". CAD is viewed as a proxy for oil (which is a bunch of BS, if you ask me, but nobody is asking.
Yesterday on CBC national news this idiot economist from one of the banks was telling us all, how "high oil prices are good for Canada, because oil companies are making profit of $1000 per second".
How can you explain these lies to a person, who works as a legal secretary and has to drive 20 miles to work?
What a bunch of cynical liars; when i hear something like that, the top of oil must be near.
Mike
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05-21-2008, 09:43 AM
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Join Date: Jan 2008
Posts: 1,219
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Quote:
Originally Posted by Big Mike
Right on.
This why they call it "commodity currencies". CAD is viewed as a proxy for oil (which is a bunch of BS, if you ask me, but nobody is asking.
Yesterday on CBC national news this idiot economist from one of the banks was telling us all, how "high oil prices are good for Canada, because oil companies are making profit of $1000 per second".
How can you explain these lies to a person, who works as a legal secretary and has to drive 20 miles to work?
What a bunch of cynical liars; when i hear something like that, the top of oil must be near.
Mike
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I hear that! Well, either we just had wave 2 up (of whatever degree???) and are indeed going lower OR this mornings low was just another "correction". Being that the up move was "news" related (inventories) it could be a wave B high.
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05-21-2008, 09:57 AM
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by diver
I hear that! Well, either we just had wave 2 up (of whatever degree???) and are indeed going lower OR this mornings low was just another "correction". Being that the up move was "news" related (inventories) it could be a wave B high.
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Let's watch it throughout the day.
So far, the move this morning looks very much like proper EW structure.
A subminuette wave down (made of of 5 micro waves) followed by 50% retracement in the form of subminuette wave 2. Now, it looks like we are going down again.
Obviously, the camp of high oil prices is vicious; they will come up with all sorts of "important news" to keep price at stratospheric levels. Today crude inventories, tomorrow pipeline incident/ terrorisrt attack in Nigeria's delta.
We all know, how it will unfold.
Mike
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05-21-2008, 10:03 AM
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Join Date: Jan 2008
Posts: 615
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Quote:
Originally Posted by Big Mike
Let's watch it throughout the day.
So far, the move this morning looks very much like proper EW structure.
A subminuette wave down (made of of 5 micro waves) followed by 50% retracement in the form of subminuette wave 2. Now, it looks like we are going down again.
Obviously, the camp of high oil prices is vicious; they will come up with all sorts of "important news" to keep price at stratospheric levels. Today crude inventories, tomorrow pipeline incident/ terrorisrt attack in Nigeria's delta.
We all know, how it will unfold.
Mike
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And to think I remember not even 10 years ago when oil was below $20 a barrel and OPEC said they would be happy with $28 a barrel. Guess they didn't figure on the rest of the greedy hands getting involved.
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05-21-2008, 10:04 AM
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Join Date: Jan 2008
Posts: 1,219
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Quote:
Originally Posted by Gizmo
And to think I remember not even 10 years ago when oil was below $20 a barrel and OPEC said they would be happy with $28 a barrel. Guess they didn't figure on the rest of the greedy hands getting involved.
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Is this THE blow-off? I guess the close will be important today. :-)
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05-21-2008, 10:14 AM
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Posts: 1,219
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Quote:
Originally Posted by saeidhidari
oil weekly
end wave 3 = 132.97
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132.08 hit! Does this qualify? Nice charts.
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05-21-2008, 10:34 AM
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Guys....gold isn't going to stop until it hits the high....this is going to get nutso with oil.
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05-21-2008, 10:54 AM
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Chart Updates
It's good to be back home and feeling refreshed! Just catching up on the happenings here while I was gone and it is exciting to see others testing out AdvancedGET. I look forward to hearing your thoughts on the software.
Here are updates to the daily counts from AGET that I originally posted on the 9th. Some counts got changed, others are still developing.
AUDUSD
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05-21-2008, 10:56 AM
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Member
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Join Date: Feb 2008
Posts: 252
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Eurusd
EURUSD
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05-21-2008, 10:57 AM
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Member
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Join Date: Feb 2008
Posts: 252
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Usdcad
USDCAD
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05-21-2008, 10:59 AM
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Member
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Join Date: Feb 2008
Posts: 252
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Usdchf
USDCHF
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05-21-2008, 11:35 AM
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Join Date: Jan 2008
Posts: 141
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Quote:
Originally Posted by texas pipster
It's good to be back home and feeling refreshed! Just catching up on the happenings here while I was gone and it is exciting to see others testing out AdvancedGET. I look forward to hearing your thoughts on the software.
Here are updates to the daily counts from AGET that I originally posted on the 9th. Some counts got changed, others are still developing.
AUDUSD
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Since you have got access to the AGET software, can you provide us with a EUR/JPY daily count? I would appreciate it much.
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05-21-2008, 11:48 AM
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Join Date: Jan 2008
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Hi texas
Good break!! You didnt take Marketwavez with as well did you as he seems to have been on hols as well!! LOL
You provided a AGET count of EURGBP before you went , i wonder if you could update us on that count as well. I think Gizmo and i watching this one carefully.
Thanks
Ray
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05-21-2008, 12:11 PM
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Join Date: Oct 2005
Posts: 1,606
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Welcome back, Texas
How was Mexico?
Can you explain the USDCAD? There are many numbers, but it looks like AGET is suggesting that we will see 0.925 before this formation is over, which is the spot indicated by the digit "5"
Is this correct?
Mike
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