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Foreign AffairsRe: Zimbabwe Grows For First Time In 11 Years by 4Play(m): 10:23pm On Jun 03, 2010
Is this not the same Beaf and Afam who think the flotilla deaths were an outrage defending Robert Mugabe, the man who massacred thousands of innocents in Matabeleland? Because Mugabe has framed his desperate attempts to hang on to power in the mode of a war against western imperialism, these people have swallowed the kool aid like a bunch of suckers.
Foreign AffairsRe: Israel Fires On Unarmed Aid Convoy. Many Dead! by 4Play(m): 10:11pm On Jun 03, 2010
More on those 'peace' activists:
PARIS — The Turkish Islamic charity behind a flotilla of aid ships that was raided by Israeli forces on its way to Gaza had ties to terrorism networks, including a 1999 Al Qaeda plot to bomb Los Angeles International Airport, France’s former top antiterrorism judge said yesterday.

The Istanbul-based Foundation for Human Rights and Freedoms and Humanitarian Relief, known by its Turkish acronym IHH, had “clear, longstanding ties to terrorism and jihad,’’ former investigating judge Jean-Louis Bruguiere told the Associated Press in a telephone interview.

Bruguiere, who led the French judiciary’s counterterrorism unit for nearly two decades before retiring in 2007, didn’t indicate whether IHH now has terror ties, but said it did when he investigated it in the late 1990s.

“They were basically helping Al Qaeda when [Osama] bin Laden started to want to target U.S. soil,’’ he said.

Some members of an international terrorism cell known as the Fateh Kamel network then worked at the IHH, he said. Kamel, an Algerian-Canadian dual national, had ties to the nascent Al Qaeda, Bruguiere said.

Among Kamel’s followers was Ahmed Ressam, an Algerian who was arrested in Washington state in December 1999 on his way to bomb Los Angeles International Airport as part of an Al Qaeda plot.

“IHH had a role in the organization that led to the plot,’’ Bruguiere said, reiterating sworn testimony he made in a US federal court during Ressam’s trial. Ressam is serving a 22-year prison sentence.

Bruguiere issued an international warrant for Kamel, Ressam’s former mentor, who was extradited from Jordan to France in 1999 and sentenced to eight years in prison on terror-related charges.

IHH vehemently denies ties to radical groups. The group is not among some 45 groups listed as terrorists by the US State Department’s Office of the Coordinator for Counterterrorism. Nine people on board the IHH flotilla were killed by Israeli forces on Monday.

“We are a legal organization,’’ IHH board member Omer Faruk Korkmaz said late yesterday in response to Bruguiere’s statements. “We have nothing to do with any illegal organization,’’ he said.

“We don’t know Ahmed Ressam or Fateh Kamel,’’ Korkmaz said. “We don’t approve of the actions of any terrorist organization in the world.’’

French investigators found in the 1990s that “several members of Fateh Kamel’s network worked at the IHH as a cover,’’ Bruguiere said. “It was too systematic and too widespread for the NGO [non-governmental organization] not to know’’ their real goal, he said.

The former judge, renowned for tracking down convicted terrorist Carlos the Jackal, said he didn’t believe the IHH could have been infiltrated by terrorists without its knowledge.

“It’s hard to prove, but all elements of the investigation showed that part of the NGO served to hide jihad-type activities,’’ Bruguiere said. “I’m convinced this was a clear strategy, known by IHH.’’

The judge said he was personally involved in a raid with French and Turkish police at IHH headquarters in Istanbul in 1998, where they found weapons, false documents, and other incriminating material.
[url=http://www.boston.com/news/world/europe/articles/2010/06/03/investigator_says_flotillas_donor_linked_to_terror/ ]http://www.boston.com/news/world/europe/articles/2010/06/03/investigator_says_flotillas_donor_linked_to_terror/ [/url]
Foreign AffairsToo Many Witches In The Central African Republic by 4Play(op): 10:03pm On Jun 03, 2010
Away from the flotilla madness, here is an interesting story on the Central African Republic:

SNAKING AROUND the outer wall of the courthouse in Mbaiki, Central African Republic, is a long line of citizens, all in human form and waiting to face judgment. It’s easy to imagine them as the usual mix of drunks, reckless drivers, and check-bouncers in the dock of a small American town. But here most are witches, and they are facing criminal punishment for hexing their enemies or assuming the shape of animals.

By some estimates, about 40 percent of the cases in the Central African court system are witchcraft prosecutions. (Drug offenses in the U.S., by contrast, account for just 12 percent of arrests.) In Mbaiki—where Pygmies, who are known for bewitching each other, make up about a tenth of the population—witchcraft prosecutions exceed 50 percent of the case load, meaning that most alleged criminals there are suspected of doing things that Westerners generally regard as impossible.

I went to the front of the witch line and asked Abdulaye Bobro, the chief judge, what the punishment was for casting spells. Bobro spoke in an articulate French baritone so rich with authority that I could imagine him flourishing as a crafty small-town defense lawyer, a Central African Atticus Finch, if he were not on the bench.

Bobro’s magisterial bearing was undiminished by his inglorious chambers, which are roughly the size of the reinforced-glass cubes gas-station clerks inhabit in bad neighborhoods. I asked him if he could explain how he reached judgments in witchcraft cases, and he cracked open his filthy, plastic-bound copy of the penal code. Without consulting the table of contents, he found the section on PCS, or the “practice of charlatanism and sorcery,” and let me read along as he quoted from memory the section that dictates a decade or more in jail and a nominal fine for engaging in witchcraft. In practice the penalties were significantly less, because the town had insufficient funds to maintain a jail. But Bobro supported the law’s preservation, perhaps because it gave him so much authority.

The classic study of witchcraft in Africa occurred among the Azande, who inhabit the eastern edge of the Central African Republic. The anthropologist Edward E. Evans-Pritchard found that the Azande attributed a staggering range of misfortunes—infected toes, collapsed granary roofs, even bad weather—to meddling by witches. Nothing happened by chance, only as an effect of spell-casting by a wicked interloper. That sentiment remains widespread among Central Africans, who demand that the law reflect the influence of witchcraft as they understand it. The standard legal concept of force majeure, under which a defendant cannot be held liable for an “act of God,” is thus rendered meaningless.

Foreign human-rights groups have noticed that many of the targets of prosecution are vulnerable types (like Pygmies, or even children), and nongovernmental organizations that exist to encourage the rule of law are embarrassed that the “law” in this case resembles the penal code of 17th-century Salem.

In response, the Central African parliament is considering striking the clause outlawing witchcraft from its books. The parliament is in Bangui, the capital, which sees far fewer witchcraft cases per capita. Even so, most lawyers I consulted there favored keeping the law intact, although they admitted that it fits uneasily in a modern legal system. “The problem is that in a witchcraft case, there is usually no evidence,” said Bartolomé Goroth, a lawyer in Bangui, who recently defended (unsuccessfully) a coven of Pygmies who had been accused of murder-by-witchcraft in Mbaiki. Goroth said the trials generally ended with an admission of guilt by an accused witch in exchange for a modest sentence. I asked how one determined guilt in cases where the alleged witches denied the charges. “The judge will look at them and see if they act like witches,” Goroth said, specifying that “acting like a witch” entailed behaving “strangely” or “nervously” in court. His principal advice to clients, he said, was to act normally and refrain from casting any spells in the courtroom.

Goroth argued that the legal system could not ignore a social fact as firmly embedded as witchcraft is in the republic. And every other lawyer I met not only supported its criminalization, but seemed to believe in the reality of shape-shifting and killing with magic spells. More than one pointed to the elbow when referring to witchcraft, indicating the site in the body where sorcery is said to reside.
http://www.theatlantic.com/magazine/archive/2010/06/hex-appeal/8103/
PoliticsRe: The Profile Of The New Inec Boss by 4Play(m): 7:54pm On Jun 02, 2010
You guys really assume the PDP would seek to appoint an impartial INEC chairman?
SportsRe: Nairalanders Overcome Biased Online reporting on Nigeria !! by 4Play(m): 7:51pm On Jun 02, 2010
I remember watching England's match on NTA during France 98. I can't recall whether it was Yinka Craig that was the host, but there was a British guest. 'Yinka' introduced the guest by saying, ''he is an Englishman but not a hooligan'' before giggling over his rather farcical attempt at humour. I wondered what he would have felt if he was introduced on the BBC as a ''Nigerian man but not a fraudster''.
Foreign AffairsRe: Israel Fires On Unarmed Aid Convoy. Many Dead! by 4Play(m): 2:21pm On May 31, 2010
Afam:
Sticks and knives? Justification for murdering 19 people? Are we talking about Spartacus or Gladiators in the arena here or what?

The level some of us are willing to go to support murder is appalling and tomorrow the same set of people will complain about injustice.
Why don't you attack the Nigerian police with a crowbar, let's see whether it will make CNN.
Foreign AffairsRe: Israel Fires On Unarmed Aid Convoy. Many Dead! by 4Play(m): 2:20pm On May 31, 2010
joeycrack:
For those talking about Israel giving Gaza back, yes Israel did give most of Gaza back but built walls around it. In a prison most of the land is for the prisoners but we know who still control it. If Israel was serious about a two state solution it would have stopped its settlement expansion and wouldn't be denying that there is a humanitarian crisis as Talya Lador-Fresher consistently does.
There are walls demarcating Israel from Gaza, which Israel is fully entitled to build. Claiming that Israel built a wall ''around'' Gaza is a pathetic lie.

Humanitarian crises my foot, if that is a humanitarian crises, what would you call most of Africa?
Foreign AffairsRe: Israel Fires On Unarmed Aid Convoy. Many Dead! by 4Play(m): 10:30am On May 31, 2010
Why should ''peace activists'' attack soldiers with sticks and knives? Will they do the same if it was an Arab Govt or the Turkish Govt?
Foreign AffairsRe: Israel Fires On Unarmed Aid Convoy. Many Dead! by 4Play(m): 10:23am On May 31, 2010
Why didn't these ''activists'' ship the goods to Ashdod and then have it transported to Gaza by land instead of attacking the soldiers? They are more interested in staging a publicity stunt than the actual mechanics of bringing aid into Gaza. Can they please stage the same operation for Darfur, people are actually starving in African conflicts.
PoliticsNigeria Weighs Sale Of State Electricity System by 4Play(op): 11:57pm On May 30, 2010
Nigerian officials have begun preparing a plan to sell the crippled state electricity system, in what would be one of Africa’s biggest privatisations if Goodluck Jonathan, the president, gives the go-ahead for sweeping reforms.

Mr Jonathan has privately signalled his support for a reform blueprint, including a potential multi-billion dollar sale of state-owned distribution companies and power plants. But he has encountered stiff resistance, people familiar with the situation said.

Advocates of the reforms said Mr Jonathan’s decision, expected in the coming weeks, will be a test of his willingness to overcome opposition from those who profit from the status quo.

“If the president wills it, it will be done,” said one person close to the discussions, who favours reform.

But a senior foreign official warned: “There are people who don’t see it as in their interests and they could throw a spanner in the works.”

Nigeria is sub-Saharan Africa’s biggest oil and gas exporter, but the state power company provides only enough electricity to run a refrigerator for one in every 30 people among the 150m population.

The proposals under discussion would break up the Power Holding Company of Nigeria (PHCN) – known to Nigerians as “Please Have Candles Nearby” – and invite bids for 11 regional electricity distribution companies and six generating companies, each owning one or more power stations.

The Bureau of Public Enterprises has begun work on a bidding process to “hit the ground running” if Mr Jonathan decides to proceed, said an official close to the body, which handles privatisations.

The government might earn $4bn (€3.3bn, £2.8bn) from the sale of existing power plants, along with others under construction, and a further $3bn from the distribution companies, according to advisers’ rough estimates.

But restoring the power lines felled by neglect or theft and extending supply to the many Nigerians for whom even charging a mobile phone is a daily ordeal would cost many multiples of the sale price.

Investors could still turn the privatised distribution companies into “cash cows”, according to one industry expert, who said: “Supply will never meet demand for 10 years.”

Nigerians spend an estimated $8bn a year running the costly diesel generators that have become the main source of power.

The lack of electricity deprives the country of economic activity worth $130bn annually – equivalent to more than half of gross domestic product – according to a study produced for the power ministry.

South Africa, with a population a third of Nigeria’s, has 10 times the generating capacity, and still struggles to meet demand.

The Nigerian government has poured roughly $1bn annually into the power sector in recent years, yet there has been no large expansion in generation – evidence, insiders say, of widespread corruption.

Mr Jonathan was elevated from the vice-presidency to the top job in March following the death of Umaru Yar’Adua. Vowing to use the remaining year of his term to tackle corruption and address the electricity crisis, Mr Jonathan has dusted off electricity reforms that were shelved.

But another insider who favours the overhaul said Mr Jonathan’s “encouragingly strident emphasis on reform in the sector” had recently given way to “disappointing confusion”.

Apart from resisting pressure from vested interests, he would have to triple the regulated tariff charged to electricity customers to make privatisation commercially attractive. That would be hard to sell to a disillusioned public. Yet the higher tariff would still be less than half the cost of running the generators.

It could also help to harness Nigeria’s vast stocks of natural gas. The price the PHCN offers energy companies for gas is far below what they make by exporting it. This leaves some Nigerian gas-fired power stations standing idle.

The World Bank has offered $400m in risk guarantees to underwrite agreements between new power companies and gas suppliers. While no formal discussions with potential investors have taken place, some officials hope to attract European utilities. Others said interest was more likely from Chinese and Indian investors, as well as local companies.
http://www.ft.com/cms/s/0/f6e606a0-69a4-11df-8432-00144feab49a.html
Foreign AffairsPolice Shakedown: US Style by 4Play(op): 11:21am On May 30, 2010
Found this interesting article in the Economist about forfeiture laws which create incentives for the police that lead, according to some, to widescale abuse: A bit like Naija police but with more subtlety.

In most states the police can seize property they suspect has been used to commit a crime. Under “civil asset forfeiture” laws, they typically do not have to prove “beyond a reasonable doubt” that a crime was committed, or even charge anyone with an offence. What is more, the money raised by auctioning seized houses, boats and cars is often used to boost the budgets of the police department that did the seizing. That can mean fancier patrol cars, badass hardware or simply keeping the budget plump in lean times. In one survey 40% of police executives agreed that funds from civil-asset forfeiture were “necessary as a budget supplement”. This conflict of interest has predictable consequences. It spurs the police to pay more attention to cases that are likely to involve seizable assets (such as drug busts) and less attention to other ones. A report from the Institute for Justice, a pressure group, calls it “Policing for Profit”.

An owner can usually challenge a seizure by arguing that he did not know his property was being used for criminal purposes. But in 38 out of 50 states, the burden of proof is on him to prove his innocence.

Police and prosecutors deny that the system is widely abused. Scott Burns of the National District Attorneys Association says that elected sheriffs would be punished at the polls if they went around seizing property without good cause. But the safeguards are slender. For instance, police can find a wad of cash in a car, claim that the owner was planning to buy drugs with it, and then seize it. The evidence may be simply that a dog smelled drugs; yet one test found that a third of banknotes have traces of cocaine on them. The poor are disproportionately at risk, since people without credit cards are more likely to carry cash. And since the sum seized is often less than the legal costs of trying to get it back, many people never try.

By and large, the police do a dangerous job honourably. But they are human, so giving them a financial incentive to seize people’s property is dotty. Why should the money not be put in the general pot of public funds? And seizing a citizen’s assets without proving him guilty of anything is nakedly unjust.
http://www.economist.com/world/united-states/displaystory.cfm?story_id=16219747
PoliticsRe: BUDGET: FG To revise Oil-price benchmark down from $67/barrel by 4Play(m): 11:29pm On May 26, 2010
4 Play:
Which $70 support? Nymex July delivery took out $67 a few days ago. Like I told TKB a few days ago, I'm expecting oil to hit sub $50, possibly, over the next couple of months. That doesn't mean it will stay there, oil could average at least $70 for the year but there is enough risk averseness in the markets now to take it sub-60.
Sub $60, not $50. [quote author=paddy_lo link=topic=451755.msg6099489#msg6099489 date=1274911703]oil closed today above $70 a barrel. . .so update your charts
oil is not touching $50,because anything below $65 makes oil shale production from canada too expensive to produce

That will shut down production,tighten up supply and lead to higher prices
watch and learn
[/quote]$70 is support, yet, we've already closed below $70 this month? We've already seen oil trade at low levels in '08 and early '09, any replay of the credit meltdown we had then will see us easily below these levels. It was only a few weeks ago you apparently claimed oil won't touch $67 again.
PoliticsRe: BUDGET: FG To revise Oil-price benchmark down from $67/barrel by 4Play(m): 11:03pm On May 26, 2010
[quote author=paddy_lo link=topic=451755.msg6099348#msg6099348 date=1274909992]Am here. . no shaking, Oil prices will reverse and close 2010 close to $85 a barrel
[b]Right now $70 is holding tight as support. . .


Forget this clueless Nigerian Politicians. ,
The good thing though is more money for ECA and external reserves. . . cool[/b]
[/quote]Which $70 support? Nymex July delivery took out $67 a few days ago. Like I told TKB a few days ago, I'm expecting oil to hit sub $50, possibly, over the next couple of months. That doesn't mean it will stay there, oil could average at least $70 for the year but there is enough risk averseness in the markets now to take it sub-60.
European Football (EPL, UEFA, La Liga)Re: Arsenal Fan Thread: For Gunners Only by 4Play(m): 12:29pm On May 23, 2010
One of Africa’s richest men is plotting to buy a stake in Arsenal in a move that could trigger a full-blown takeover battle for the Premier League football club.

Aliko Dangote, a billionaire Nigerian industrialist, is in talks to buy the 16% stake being sold by Lady Nina Bracewell-Smith, the club’s fourth-largest shareholder. Dangote is understood to have registered his interest in buying the holding with Blackstone, the American finance house that has been given the job of finding a buyer for the shares.

Bracewell-Smith’s stake is currently worth £96m, but she is seeking up to £160m for the shares. Her holding is key to the future ownership of the north London club.

Arsenal’s two biggest investors, Stan Kroenke, the American sports tycoon, and Alisher Usmanov, the Russian oligarch, are also contemplating buying the shares. If either of the two men were to buy the Bracewell-Smith holding, they would be forced to launch a full takeover offer for the club.
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article7133927.ece
PoliticsRe: IBB's Acheivements? by 4Play(m): 10:40pm On May 21, 2010
IBB was just another one of our incompetent leaders. The reason why he gets a specially bad rap for the economy is that he happened to be President when Nigeria was technically insolvent. The SAP programme, Naira devaluation and IMF deals were mere outcomes of the monumental mismanagement of the country by his predecessors, from Gowon to Shagari.

As for IBB's achievements, I think it's absurd to talk of achievements in the context of a disastrous regime. For Nigerian leaders, I always say the right question should be who was the least objectionable.
PoliticsRe: From Nigeria To Texas Oil Wealth-kase Lawal by 4Play(m): 7:55pm On May 21, 2010
He's far more of an authentic business man than all the Dangotes and Adenugas who are fronting businesses for ex-military generals.
PoliticsRe: Nigerian Students In Uk Varsities Are Exceptional’ by 4Play(m): 6:58pm On May 20, 2010
SEFAGO:
Hmm, depends. Oxford and Cambridge also depend on foreign graduates for dough. The problem is that the average Nigerian is not given the opportunity to attend either Oxford or Cambridge so there is not a critical mass number to show the quality of Nigerian graduate. Oxbridge cost quite a large amount of money that the average Nigerian student cannot afford.

True, but mekusxx actually believes what he writes. I am aware than no ethnic group has the prerogative over good or bad. Basically I stoke trouble, but I rarely start it. Two different things.
These schools like many, though not to the same degree, of the Ivy League schools, offer generous packages for good students below a certain income threshold. Oxford and Cambridge are not anywhere as dependent on school fees as schools in the bottom rung. I think it's a barefaced lie to suggest that educational institutions in the Western world hold Nigerian graduates in high regard. Nigerians never seem to stop wallowing in self delusion.
PoliticsRe: Nigeria May Go Bankrupt As Crude Oil Price Falls by 4Play(m): 6:51pm On May 20, 2010
Crude fell 7% today, $66. Should bounce back in the 2nd half of the year but we're in a bear market for now.
PoliticsRe: Kaduna Muslims Vow To Frustrate New Governor by 4Play(m): 10:11pm On May 19, 2010
shadrach77:
Meanwhile, the VP designate, Namadi Sambo at an interactive forum with both Muslims and Christians in the state, appealed to the Muslims in particular to accept Yakowa as their governor.

“My elevation to the status of VP and that of Yakowa to the Governor of the state is an act of God. So, I expect nobody to protest.”
http://pmnewsnigeria.com/2010/05/18/muslims-rage-over-christian-governor/v
He must have a direct line to God.
PoliticsRe: Nigerian Students In Uk Varsities Are Exceptional’ by 4Play(m): 9:46pm On May 19, 2010
SEFAGO:
LOL thats quite the generalization. Its a bit perspicacious in that you are correct in asserting that average Nigeria students do excel in the UK/US. You cannot blame them- the fear of returning to poverty in Nigeria would make you work harder in the US/UK.
The average Nigerian student does not 'excel' in the UK/US. If they did, Oxford and Cambridge will be falling over themselves to get their hands on Nigerian graduates. The reality is that education is an income generator, especially for universities at the bottom of the quality scale where you will find most Naija students.

These Unis depend on foreign graduates, through exorbitant fees, to subsidise education for the locals and make ends meet. Nigeria happens to be one of the largest customer base. You don't expect this salesman to say that Nigerian students are not really that good but they need them because they are prepared to pay +£9000 per head.
PoliticsRe: Nigeria May Go Bankrupt As Crude Oil Price Falls by 4Play(m): 7:02pm On May 18, 2010
Nymex trading at 69.70!
RomanceRe: Please Sisters, Its Man Find Wife Not Wife Find Man by 4Play(m): 9:57pm On May 17, 2010
Utter dross. There are many marriages that broke up in which the man was the initiator of the relationship.
PoliticsRe: Nigerian Rapist Strikes In London by 4Play(m): 9:53pm On May 17, 2010
Apparently, the last time his relatives saw him prior to the incident, he told them he was going out clubbing.
PoliticsRe: Nigerian Rapist Strikes In London by 4Play(m): 9:48pm On May 17, 2010
I blame Naija women for this. If one Naija sista was taking care of his needs, he won't be out there clubbing women like a caveman. sad
PoliticsRe: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by 4Play(m): 11:07pm On May 16, 2010
All this noise Oyb is making is out of religious solidarity. It's quite clear to me that Sanusi is not one of Nigeria's best economists. I have always said that the CBN Governor should have at least a PHD in economics or a related field, or at the very least, other stellar scholarly credentials. Obviously, this alone does not make a good Gov, look at Soludo who was well qualified but a thief, but it is an essential starting point to dig us out of the mess we are in.
Music/RadioRe: Distant Relatives Is Out. . . by 4Play(m): 2:00pm On May 16, 2010
The album is supposed to help me as an African so I have no scruples with downloading it
EducationRe: Prof. Gabriel Oyibo (GAGUT Theorem): Mad man or Genius by 4Play(m): 10:06pm On May 15, 2010
The man is obviously mentally unbalanced. Here is a quote from his website:
Professor G. Oyibo has been recognized as being closer to GOD, than any other human being because of the GAGUT discovery. He has also been recognized by the Nigerian Federal Government as Mathematical Genius which was inscribed on a Nigerian Postage Stamp that was issued in 2005.

Professor G. Oyibo has also been recognized as the Greatest Genius and the Most Intelligent Human Being ever created by GOD. He has also been recognized as the Greatest Mathematical Genius of all time.
http://gagutofappit.org/
PoliticsRe: Nigeria May Go Bankrupt As Crude Oil Price Falls by 4Play(m): 9:00pm On May 14, 2010
[quote author=Gold-mind link=topic=445622.msg6038200#msg6038200 date=1273866649]I don't trade cude oil as well. But monthly, weekly and daily chart are all on strong down trend. That's why EU and UK is stategizing, shifting their attention from crude oil to make sure this rubbish doesn't go far, but Nigerian leaders are failing to read the handwriting on the wall.[/quote]The flip side is that the tempering of the Niger-Delta crises has meant that crude oil production has risen fairly substantially.

We're well off today's lows . . . currently pushing towards $72.00. With all the panic over Europe, -$60 within the coming months beckons still.

For Nigeria, we need to work harder towards diversifying our economy. Dependence on one commodity is just wreaking havoc on the country.
PoliticsRe: Nigeria May Go Bankrupt As Crude Oil Price Falls by 4Play(m): 8:34pm On May 14, 2010
tkb417:
i know all that 4play

nyways, ill hit you up when your analysis go wrong

so lets wait
The recent low, Jan '09, was $33.20 and the recent high was $87.15. I think that recent high is key, if we retrace 61.8% of that, that will see us at $53.80.

$60 is good support but the debt panic can easily take us below that. Did you see how Europe's equities sold off today? I'm not sure of a sub $60, but the fear levels are approaching the post-Lehman days.
PoliticsRe: Nigeria May Go Bankrupt As Crude Oil Price Falls by 4Play(m): 8:24pm On May 14, 2010
tkb417:
haha

i dont see anythin empirical in your 15% assumption

show me the charts, with the doji flagging the danger sign and maybe i can believe as it is, the debt crisis isnt enuff to bring down the prices by 15% .

we all will be here to discuss later
Fundamentals, not TA, is what is driving prices. Oil is priced in dollars and if the dollar keeps going up, oil will keep going down.

I don't trade oil but many indications suggest that risk assets, equities and commodities, will go lower.

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