Iraq generates on average 2.38 million barrels per day, Oil Revenue for 2007 is estimated at around $70 billion...from wsj earlier. Normally, proper bases show a decline of 30% or 35%. In a bear market, bases may be 40% or 50% deep and still work out. "Remember, leading stocks may correct 1 1/2 to 2 1/2 times more than the major indexes." "In cup-with-handle bases, you may see handles that are much steeper than normal.
to get off the subject of oil for a bit...lets go to some chart education from IBD, even in Bear Markets, bases and handles can form in chart patterns of "Cup and Handle", and still work out.
The normal depth of a handle is 10% to 15%, yet the pressure brought on by a bear market can make a handle 20% or 30% deep without ruining the pattern."
Why do I feel that I have not been studying enough for my final that I have in the am.
MPM
Wednesday, April 30, 2008
send you off now
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