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Thursday, March 20, 2008

Use your brain! Part.II

Read this news. This could probably prove that I am right on my yesterday article (Use your brain! ...).

Oil extends sharp decline
Crude prices fall further to $102 a barrel a day after posting their biggest drop in 17 years.

SINGAPORE (AP) -- Oil prices extended their sharp retreat Thursday on the previous day's release of data that showed demand for petroleum products is waning in the face of record high prices.

The U.S. Energy Information Administration's weekly inventory report said Wednesday that overall consumption of oil and its products fell 3.2% over the last four weeks compared to the same period last year. Demand for gasoline fell 1% during the same period....

link

Now big boys will short them all the way down.. no mercy, and you can call that a massacre.



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Words borrowed from Dr. Alexander Elder:

Trading is so exciting that it often makes amateurs feel high ...Nobody can get high and make money at the same time.

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