Bubble or no bubble oil is at all time high. I could care less about peoples opinions. Warren Buffett yesterday said speculators are not to blame for current levels. Jim Rogers said oil is going much higher. Oil has been called a bubble since 100 a barrel. Every new high is met with more talk about bubble. This is going to be a bubble all the way up to 200 by next year where it will base permanently.
Put your money where your mouth is. But save a bit for your rent and food, I don't want to have to support you on welfare.
From 1995-2000, lots of people said tech and dotcoms were a bubble. Eventually they were right, but they lost a lot of money, and missed out on gigantic low risk profits, by sticking to their ostrich-like view. Meanwhile, more flexible traders and investors made enough to retire or become seriously rich. Quite a few of these TRADERS (not buy and hold morons) also made out like bandits during the bear market, by betting on the collapse too. If and when oil tops and reverses, I fully expect to make a killing on the short side. Meanwhile, premature bears will be mentally and financially exhausted, and will lack the confidence and decisiveness to short the crap out of it and make a second big score on the decline. This is eliteTRADER.com, not elitevalueinvestor.com, so whether something is overvalued or not is of little concern to us, except to the extent that valuation can offer trading insight. Maybe oil is a bubble - but so what if it is? Being long in a bubble is one of the most profitable opportunities in the markets. Being short in one is one of the most boneheaded and painful. Your call as to which approach you want to take.
I never said you were supposed to be short oil from 100. We are speaking of the sodomizing of the American consumer. At the hands of opportunists. Nothing more.
Mate I dont know why you bother most of the posters on here havent even sim traded they just like to pontificate grandly, conduct useless polls, make pointless predictions and crow when one finally comes true as it makes them the next Paul Tudor Jones. This site is a complete waste of time but addictive at the same time.
Perhaps that will stop the American consumer sodomizing the environment with their gas-guzzling vanity autos.
You're preaching to the choir. I would have preferred that there be a HUGE tax on anyone driving an SUV than punish all of us. I have called them vulgarities more than once here. All they had to do was tax the purchase and fill up of any vehicle that didn't get > X mpg. But too many special interests for that. I don't even have a freaking car. By choice in case you're wondering.