http://money.cnn.com/2006/01/27/news/international/pluggedin_fortune/index.htm?cnn=yes Oil pulled back from 68, went to 66.......and is bouncing again....almost back to 68. Will there be another leg up in the coming weeks? If i had to guess i would say we make new highs. But i posted this to get the advice of the professionals at ET! When do you think we will make new highs......and if so, how high do we go?
Buy the rumor? Oil this high means the Oil Sands/Defense/Gold stocks should benefit. Charts say long Oil/Gold/Defense/Oil. Check it out.
I would have to say that i agree with the call on gold. Oil prices have nowhere to go but up........ I also like silver.....there was a massive technical breakout 2 days ago But, getting back to the thread i think we see 80 dollars a barrel before we see 50.
Bateman's right: CLH6 taking out new highs following DOE bear report sell-off; funds buying here will buy above $75.
Wow, I dont know how to say this, but my opinion has changed completely......I am now bearish after the price action on wednesday, a massive failure after we touched 69 dollars , reaching new lows. I have to say we are headed back to 60 in the next month or so. (If i am not right, this is as good a buying opportunity as any.)
well, my short is playing out well, couldnt have timed it better, crude is getting smoked right now, yesterdays sell-off seemed to be a great indicator of a top