One of my friend cum excellent adviser cum expert sent me below alert along with his institutional clients today early morning in my mailbox.Most of times he is dead right so let's see how he goes this time.

Now there are 4 consecutive wave degrees in an uptrend that have a probability of completing

five waves! For picking a top this is an important alert, but be careful.

The more patterns of different wave degrees show 5 waves that are completing,

the higher the probability that a major reversal is just around the corner.

This is an early warning so prices could still rise further if the patterns extend, check other

indications of an ending trend as well. Active traders should focus on smaller

wave degrees starting from Minor or minute. The summary inspector will give its first indications

when the smallest wave degrees (at the bottom) change to negative.

The target is the area of the previous 4th wave, normally the extreme of this 4th wave will be reached.

------------------------------------------------

Action        : Short/sell

Applies to                                  :

1st Wave degree                        :SuperCycle                             

% signals          wave 3              :81.7308

% signals          wave 4              :0

% signals          wave 5              :18.2692

2nd Wave degree                       :Cycle                          

% signals          wave 3              :64.1509

% signals          wave 4              :0

% signals          wave 5              :35.8491

3rd Wave degree                        :Primary                                   

% signals          wave 3              :88.1743

% signals          wave 4              :0

% signals          wave 5              :11.8257

4th Wave degree                        :Intermediate                            

% signals          wave 3              :78.7464

% signals          wave 4              :0

% signals          wave 5              :16.0020

[trading]

Fifth in a fifth

Now there are 4 consecutive wave degrees in an uptrend that have a probability of completing

five waves! For picking a top this is an important alert, but be careful.

The more patterns of different wave degrees show 5 waves that are completing,

the higher the probability that a major reversal is just around the corner.

This is an early warning so prices could still rise further if the patterns extend, check other

indications of an ending trend as well. Active traders should focus on smaller

wave degrees starting from Minor or minute. The summary inspector will give its first indications

when the smallest wave degrees (at the bottom) change to negative.

The target is the area of the previous 4th wave, normally the extreme of this 4th wave will be reached.

------------------------------------------------

Action        : Short/sell

Applies to                                  : Insitutional investors

1st Wave degree                        :Cycle                          

% signals          wave 3              :64.1509

% signals          wave 4              :0

% signals          wave 5              :35.8491

2nd Wave degree                       :Primary                                   

% signals          wave 3              :88.1743

% signals          wave 4              :0

% signals          wave 5              :11.8257

3rd Wave degree                        :Intermediate                            

% signals          wave 3              :78.7464

% signals          wave 4              :0

% signals          wave 5              :16.0020

4th Wave degree                        :Minor                          

% signals          wave 3              :70.9318

% signals          wave 4              :0

% signals          wave 5              :29.0682

Oilonomics has gone haywire. The rise in oil prices has now started to hurt. Crude oil price increased five-fold in five years (from $22 per barrel in 2003); doubling in just fourteen months (from $54 per barrel in January 2007 to $110 per barrel in March 2008).

OPEC signals the long-term floor benchmark to be around $90 per barrel. But the charged oil market, with its historical complexities, cannot offer anything except a further flaring in the price. I strongly believe double-digit oil price is already history.

OPEC has around 73% of the world’s proven oil reserves. One-third of the world’s oil production comes from just three countries: Saudi Arabia, the Russian Federation and the US. Half of the world’s oil production comes from the 100 largest fields, almost all more than 25 years old. Discoveries of new giant fields are becoming rarer. Out of 85 million bpd oil production today, only 15 million bpd come from new finds and day-by-day incremental demand is outstripping incremental supply.

Now, many oil geologists believe that 90% of the globe’s oil fields have already been tapped and many are already exhausted. This is reflected in the report cards of oil MNCs. Reserve replacement ratios (RRR) for most, if not all, is less than one. These fundamental and non-fundamental factors have a cause-and-effect relationship.

http://economictimes.indiatimes.com/View_Point/Double-digit_oil_price_is_history_R_S_Sharma/articleshow/2892602.cms