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23
Apr

Wrap – Week Ended 4/22/11

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Wrap comments will be included in the Tuesday post.   Have a Happy Easter. 

This entry was posted on Saturday, April 23rd, 2011 at 5:07 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

9 Responses to “Wrap – Week Ended 4/22/11”

  1. 1
    Zorgnak Says:

     
    Wondering how many here saw these scenes of the Arab Oil Embagoe live and in living color? Raise your wrinkled paw! Were you an odd or even? Did your state have colored flags to show what the situation was at the service stations?
    http://www.poconorecord.com/apps/pbcs.dll/article?AID=/20110423/NEWS/104230335/-1/NEWS01&Template=photos

    A doubling of the price of oil at the refinery level and actual shortages of gasoline at the pump raised the price of gasoline to outrageous levels for that period. One of the pictures shows the price of gasoline at $3.66. Trying to imagine $7 gas at the pumps now in this far less robust economy we're in now.

    April 24th, 2011 at 11:08 am
  2. 2
    Zorgnak Says:

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    Crude Oil Futures as of the NYMEX Friday close.
    Crude was  exploring  the upper limits of the fear premium once again. Moving easily through previously lightly auctioned area from 109 to 114.05.  Caution… the lightly auctioned areas can move freely both ways!
    112        Minor Acceptance
    110.70   Minor support
    108.68   Acceptance
    108        Support
    107.50  Major Acceptance
    106      Major Support
    http://www.charthub.com/images/2011/04/24/CL2

    April 24th, 2011 at 2:30 pm
  3. 3
    Zorgnak Says:

    HDY
    HDY found support almost to within a dime of the the January lows around 3.90. I hoping to see this drift in fits and starts to 5.30. The $5.30 area is shaping up as the most accepted price until we hear some price popping news.
    http://www.charthub.com/images/2011/04/24/Stock_Composite_5

    April 24th, 2011 at 5:39 pm
  4. 4
    Zorgnak Says:

    BEXP
    Areas of Interest
    36.64 Resistance CLVN
    35.84 Acceptance
    35.68 Resistance
    34.70 Weak Resistance
    34.12 – 35.41 Low volume area…possible rapid movement
    33.80  Acceptance, CHVN
    http://www.charthub.com/images/2011/04/23/Stock_Composite_8

     
     

    April 24th, 2011 at 6:16 pm
  5. 5
    Zorgnak Says:

    NOG
    NOG is holding acceptance at 23.72 on improving volume pressure after re-taking major support at 23.25 (Post S&P mutterings). Late bears will not want to see this much above 24.96 which will put them increasingly underwater with major acceptance areas above.The area above 24.96 was very lightly auctioned in the last move down and any move up could be rapid to major acceptance at 26. Above 26.38 resistance and congestion fades with the next major resistance at 27.86.
    27.86 Major Resistance
    26.83 Resistance
    26      Major Acceptance
    24.96 Resistance
    23.72 Acceptance
    23.25 Major support
       

    April 24th, 2011 at 7:06 pm
  6. 6
    Zorgnak Says:

    NOG chart

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    http://www.charthub.com/images/2011/04/23/Stock_Composite_6

    April 24th, 2011 at 7:06 pm
  7. 7
    zman Says:

    Thanks for all the comments Zorg! Still buried in bunny land. Hope everyone had a great long weekend. 

    April 24th, 2011 at 7:11 pm
  8. 8
    blackgold39 Says:

    Zorg – thanks for the NOG charts…heres to hoping they have a big week

    April 24th, 2011 at 10:04 pm
  9. 9
    Zorgnak Says:

    #8 Amen
    Here's one that I think captures a little more clearly what I was noticing about the low volume in the area above 24.96.
    http://www.charthub.com/images/2011/04/24/Stock_Composite_7

    April 24th, 2011 at 11:21 pm

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