Exxon Lowers Bar, Buys Assets Once Seen Unattractive (Update1) - Bloomberg.com

Exxon Lowers Bar, Buys Assets Once Seen Unattractive (Update1) - Bloomberg.com

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Oil Prices

How low can crude oil go?

After trading as high as $73 a barrel, crude oil began to buckle under pressure as the CFTC began to look into position limits that can be held by traders. Adam Hewison, Market Club, presented this one live during the Wednesday July 8, 2009 trading session.

In Adam Hewison’s new video you will see what has happened to crude oil in the last eight days. You’ll will also see what he believes will be the area that crude oil will find support.

Click here to watch this charting analysis video presented by Adam Hewison of Market Club.

The Outlook for Crude Oil From a Top Industry Exec

From Commodity Bull Market July 10/09

Oil fundamentals don't support $70 crude oil. There is plenty of oil right now. Oil should be priced in the $40's and $50's based on fundamentals.

The Lastest Outlook on Oil

From Pragmatic Capitalist - Oil is overbrought and will be heading down.

Stephen Schork, editor of the Schork Report and one of the finest oil traders around, latest report is still very bearish as the fundamentals still don’t seem aligned with the technicals.

Conculsion by Pragmatic - we could see some stabilization in the oil market as the market simply appears a bit overdone on the downside after a near 20% drop in short order. This could provide some near-term stability in the weeks ahead, but don’t be surprised when the fundamentals reassert themselves later in the summer.

Market - COT

COT reports:

S&P - Moves to Cash June 1st
Gold - Long June 1st
Oil - Long from May 25th
US Banks (BKX) - Long from May 25th

Oil Breaks Out: Is It Sustainable?

From BCA...Oil or couple of currencies; NOK and or CAD

A "Second Chance" Trade That'll Make Your Year

From Growth Stock....Natural Gas might be a buy.

Oil Stock - Time to Buy?

Jeff Clark From Growth Stock Wire
May 12, 2009

The oil rally is solid.

The price of a barrel of West Texas Crude is up 100% since its bottom last December. By the look of the following chart, there are more gains to come...


The chart has broken above resistance at $55, and there should be enough momentum to take it all the way to $70. So if you're long oil, then stay long.

But if you're thinking about buying oil stocks now, you better think again. The single best oil stock timing indicator is flashing a warning sign...


A bullish percent index (BPI) is a measure of overbought and oversold conditions. A sector is oversold when the index dips below 30, and it's overbought when the index rallies above 80. The best market timing signals, however, come when the BPI reaches truly extreme conditions.

For example, the best buy signals in the oil sector occur when the BPENER dips below 10 – as it did in October, November, and March. Each of those signals generated 25% gains in the AMEX Oil Index in just a few weeks.

The best sell signals in oil are when the BPENER runs near 90 and above. You can see how the two previous sell signals played out on this chart...


Yesterday, the bullish percent index for the energy sector closed above 93. That means 93% of the stocks in the energy sector are trading in bullish chart formations. That's an extreme reading... And it doesn't leave much more room for additional momentum to carry it higher. In fact, it increases the likelihood of a strong selloff in the oil sector.

So even though oil itself looks ready to run higher, the stocks are in the danger zone. We'll likely have a better opportunity to buy them a couple months from now.