12-13-2015
It's amazing alright, bottom line is oil & gas prices are nothing but a Monopoly game for the rich:
http://www.thestreet.com/story/1339...nth-rally.html?puc=yahoo&cm_ven=YAHOO&ref=yfp
Don't Get Used to Low Oil Prices, There's a Big Rally Coming
As often happens after large degree trends reach maturity, the crowd becomes fully associated with the what has happened, and misses the next great opportunity. This exact scenario is not only occurring in crude, again (as it did at the low of one lesser trend degree at the 2009 low, but also happened at the 2008 peak, 2011 peak, 2011 low, and 2013 peak), into the current price and time windows.
The rationale back then was the oil glut paradigm, where the world was drowning in crude. Interestingly, as the monthly bar chart below notates (into the 2008 parabolic price rise), this glut story came to the headlines within only six months of the story that was being attached to the crude price rise from $50 to $137; the peak oil paradigm.
This was the premise that every last drop of oil on the planet has been identified, and the moment in time the world would run out of oil could be calculated (given the population growth and usage assumptions, etc.).
The 2013 peak, also using the six-foot technique, is labeled as wave (B), the intervening up portion of the down/up/down corrective pattern. From that peak, there is now a textbook five wave impulsive decline, which is expected for wave (C). Within wave purple 5, the decline from the May peak this year, there are now five smaller waves that can be counted as complete, or nearly so, which is also expected, textbook behavior. In doing so, the crowd has now manifested itself into a sentiment extreme of certainty about the future price of oil that leaves no room for human failure,an attribute of human nature that is impossible to eliminate.
Therefore, devastating surprise is about to be brought to the crowd's certainty, and the next great bear trap, like that of early 2009, is about to slam shut on greedy shorts that refuse to use protective buy stop orders to lock in their
amazing profits, and late-joining shorts that missed most of the decline from at least the May peak, near $62, if not the 2013 peak, near $112!