Have you noticed the brand new banner on CNBC next to crude quotes? "Americas Oil Crisis" Very close now.....very close.
We're approaching the moving average crossover of price of a used SUV and the price of a tank of gas... will the US recover, ever... stay tuned folks...
If you look back at this period, and wanted a nice used or new SUV, you'll kick yourself for not buying one. You can steal a nice SUV for literally 50% of its value if gasoline were $2.19 or $2.29 a gallon, which it will be again - sooner than many dare to believe. http://hsgac.senate.gov/public/_files/052008Masters.pdf
Oil to NEVER hit $135.00 again...dated: May 22, 2008...here is why...read... 1-Many will continue to profit take as price target of $135 was hit 2-Dollar is getting stronger 3-Commodity bubble about to burst 4-there will be HUGE after memorial day sell off...watch for it...will start tomorrow, Friday May 23 ,2008 5-Next Wed EIA report will be massively bearish stating overstock of inventory... 6-monthly supply reports should show back up of inventory 7-when it begins, watch out, will fall hard... 8-much of upward price momentum has been short covering rally 9-Venezuala issues appear to be a 'non issue' 10-Iran supply issues are 'not there' 11-market did not budge when congress said no more stock piling invenotry 12-"irrational exuberance" in Oil cannot continue 13-gas prices will rise and demand will lessen thus ending demand for Oil 14-Green options (non Oil required...I.e. Wind farms etc.) will continue to grow 15-COT report will begin to show this...this lack of demand for Oil 16-the "prophetic" future contracts in months, years to come are price less then the current front month contract...so, traders are expecting that Oil price will and should decline!!! 17-Brent Crude is almost same price as WTI Crude thus indicating the 'devaluing' of the WTI Nymex product... 18-China etc.cannot keep current pace of 'craving' for commodities such as Oil etc. 19-Ethanol boom will become a 'bust' thus creating desire for 'purer' return to gas and normal Oil supply/demand 20-Inflation to be proven 'non issue' and price of Oil comes down as economy strengthens Disclosure: this is my opinion only. Do your own research before buying or selling Oil futures or USO stock or USO options or even OIH, DUG etc..or anything Oil related... PLEASE ADD YOUR POINTS #21, #22,#23...etc..