Posted by freakydude on 13th of Jun 2014 at 12:01 am
Last things first. GME has been stalled, up and down, up and
down, in the same horizontal channel between 36-38 for three weeks,
but today it had a very bad horrible day. Could it be ready to
fall? It's certainly coiling up to do something big, it would seem,
one way or the other.
Iraq and its oil. Iraq is one of the top five oil exporters in
the world. Check out the WesternZagros chart below. Its oil wells
are located in Kurdistan, I believe, and in the last week, it's
moved up and down 30%. Now the Kurds seem to have taken over
Kirkuk, as of today, and that might be why it recovered so well
from today's potential debacle. It just seems that this "war" could
very much upset Iraq's ability to export oil, if ISIS has anything
to say about it. So most of the big oil companies have already gone
up a lot, but there's REXX and DO, which have not so much. Also
there's an apparent straggler named Forest (FST) that's sitting at
2.42 after collapsing in the last couple years. Seems to have a
nice basing pattern lately though.
Reactions?
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Ideas -- oil and the Iraq crisis; also GME
Posted by freakydude on 13th of Jun 2014 at 12:01 am
Last things first. GME has been stalled, up and down, up and down, in the same horizontal channel between 36-38 for three weeks, but today it had a very bad horrible day. Could it be ready to fall? It's certainly coiling up to do something big, it would seem, one way or the other.
Iraq and its oil. Iraq is one of the top five oil exporters in the world. Check out the WesternZagros chart below. Its oil wells are located in Kurdistan, I believe, and in the last week, it's moved up and down 30%. Now the Kurds seem to have taken over Kirkuk, as of today, and that might be why it recovered so well from today's potential debacle. It just seems that this "war" could very much upset Iraq's ability to export oil, if ISIS has anything to say about it. So most of the big oil companies have already gone up a lot, but there's REXX and DO, which have not so much. Also there's an apparent straggler named Forest (FST) that's sitting at 2.42 after collapsing in the last couple years. Seems to have a nice basing pattern lately though.
Reactions?