Point #16 The first time someone emphatically used point # 16 to "explain" to me that oil was "overpriced" as indicated by his "interpretation" of the "forward curve" - crude oil was at a mere $45 a bbl. $90/bbl. later - same stuff, different messenger. "If you believe in things that you don't understand, then you suffer. Superstition ain't the way ... " - Stevie Wonder
12-"irrational exuberance" in Oil cannot continue I think it wasn't quite yet established. There are some people are still bearish, like you, when most people are at one-sided (all bullish) who agree that going long with oil is a money-making machine then this reason #12 will inevitably be true.
Do you know anything about the carry? Do you know about the spread relationships? Do you know how to calculate storage costs, transmission costs, interest factor? The distant months of wheat were trading at a discount last summer, and wheat rallied 40%, higher at Minneapolis.
hey all...just got my Starbucks and trying to plan my short entrance on Crude or Brent...I stand by this post...again...just my opinion...good to go out on a limb...share your thoughts rather than badger how "never say never" is wrong...of course I know Crude could go up to $150.00 but this is my thoughts for debate, dialogue and good trading insight being shared...the best to you...oh yea, as of 7:25AM San Diego time... Brent is trading HIGHER than Nymex Crude...hmmm...sounds like one of my points...great day to you!!!
I just filled up today, 4.09/gln...and I drive an H2...Big tank...But it gets even better, so bad that I actually began laughing...Turns out, my beloved H2 has a hole in its bucket dear johhnny. Yep, it leaks gas! Turns our, thars a small hole in the tank...prolly got it when I ran over my wife and she tried to resist. Oh well, it costs way to much to fix it, so, I'll just let it drip gas until its over $6 at the pump.
The world already knows who I am. I'm Charlie Sheen, bitch. Now, be sure to watch my show "Two and a Half Men" on CBS. Mondays - 9 pm et. Have a nice day.
"The market can remain irrational longer than you can remain solvent" I could see oil going to $200 or higher. But it will be back below $70 within two years.