OIL and the stock market(s) 9-7-15 WTF happens NEXT?

oil is at $44.25 and looks to continue DOWN.............

STILL $44.25 ticker must be stopped....

Asian markets tonight

Good post, OP. IMO , the time of the petro dollar has come & gone.

I found this an interesting take from a fellow GLPer. May we all be safe during the coming sh*tstorm

Thread: You wanna know what is going to happen? Then you gotta understand a few things...about oil

it's like we're just supposed to Fucking FORGET that they have been Saying for MONTHS that YES! we are Going to RAISE RATES IN SEPTEMBER!! Now why this Indecision?

Maybe tptb is too busy printing out more dollars to get their story straight?

( I'm kidding - sort of )

most likely...

Begins a little less than 2 hours.

oil $44.46 NOW.....

A lot of layoffs and ships being docked for who-knows-how-long... It's coming down, methinks ------

I thought it was under $40 last week?

I keep hearing about how China drops 8 percent.. a week later, again... a week later, again and a week later, again. I add it up and figure they must be down like 88%

Then I check and it is only down 40 or 50% -- still higher than it was a year before... still as high as it was at the start of the year. So I look closer, and see that no one bothered to mention the days it was up. At this point, the Chinese market has to drop anther 500 to 1,000 points before it really starts to hurt the long term investor.

Oil... well, we are not going to see prices at the pump fall much further anyway, no matter how far it goes down.

even if it was 2 cents a barrel the cost to refine ans transport are gonna keep it around 2 bucks a gallon

$44.68............

this shit is SO FUCKING FAKE..

well, it went up today... so maybe everything is OK (again)

OR

Maybe

NOT!

My little chart... resistance if we break the pennant to the upside is around 17,200 on the dow.. support if we fall below the pennant would either be a double bottom or a reverse head shoulders... either way look out below.

[link to i60.tinypic.com]

Of course with the way the markets are trading now we could hit anywhere in a couple days.

Last Edited by Trumpelstiltskin on 09/08/2015 08:42 PM

Back in the 2008 meltdown, they were saying how Putin needed $60 a barrel in order for Russia to survive. I don't think old Vlad is going to take this sitting down. Stars of Hormuz, remember that place? It may only be 12% of the world supply but you know how the gas station franchises like to raise the price overtime someone farts near an oil well.

Straits, Straits of Hormuz (damn spellcheck)

Because it helps control inflation. The less you have for other things the less chance of you raising prices and wages. The first two things the public recognizes as inflation/

oil is at $44.38 right now.... (again) going no where fast.

$44.20.......................................