Bullish on Crude Oil

Discussion in 'Trading' started by YIELDSAFE, Jan 17, 2007.

  1. Its only warm for the northeast. People are getting killed all over the United States because of ice storms. Big rigs are running off of bridges.

    Denver got hit with several feet of snow where they had to pluck people off the roads in helicopters. People were buried alive in snow. In Oklahoma, troops were sent in and a state of emergency declared. Multiple people dead.

    Believe me, its not that warm in all parts of the United States. The only part they care about is NYC, thats it. If there are ice storms in every other part of the United States where troops have to be sent in to calm a state declared emergency, it wont matter. As long as NYC is nice and warm, what the hey. . .


     
    #11     Jan 17, 2007
  2. Some of you are confusing crude oil and distillate, I believe.

    If there's a glut of crude, but working down of refined distillate inventory because of weather (heating purposes), that doesn't mean that crude oil is going to rise.

    In other words, a rise in distillate use may not offset the rising crude oil inventories so as to drive up the price (or keep it from falling further).
     
    #12     Jan 18, 2007
  3. USO tracks crude the commodity. OIH and XLE track the oil companies.
     
    #13     Jan 18, 2007
  4. dac8555

    dac8555

    I dont see much advantage to USO. it doesnt track crude accurately enough and doesnt have much historical data.

    On top of that ever since it was launced it has not developed any support or resistence patterns. i think it is hard to trade.
     
    #14     Jan 18, 2007
  5. Thanks a529612 and dac8555.

    Mark
     
    #15     Jan 18, 2007
  6. ess1096

    ess1096

    I prefer OIH & XLE because I trade the options.
    USO doesn't have options.
     
    #16     Jan 18, 2007
  7. My forecast on crude oil was right on target. Today on 1/23/07, 1 week later, crude oil closed at 55.04.
     
    #17     Jan 23, 2007
  8. That was a good call, congrats!
     
    #18     Jan 23, 2007
  9. my feeling is crude will hit $48 before the uptrend resumes
     
    #19     Jan 23, 2007
  10. S2007S

    S2007S

    This market is alll over the place, one day its tech the next day energy. Market is stuck and waiting for a move. The next move will be "substantial".
     
    #20     Jan 23, 2007