stock, you keep on saying the recession and credit crisis are fake, now you say oil will shoot higher on any sort of news of a recovery? This is why you are not taken seriously, you are just a cramer (although much much dumber), you are such a tool
Oil is very oversold. The daily limit is $10, which could be hit in one day IF a large bailout is passed and or better than expected econ data.
Oil should have definately surged $10 yesterday when OPEC announced their biggest-ever cut of 2.2 million barrels per day. But Oil did not surge, it started falling, Why? I think there is some "major hidden problem" within the world economy. Something "BIG CRASH" is going to happen.
Get it in your head...you are dealing with Arabs...dumb and NEVER to be trusted. BTW they survived very well when it was in the low teens... Dubai and Abbi Dabi will do fine as the government controls the external purse strings so they will focus on financing their over bl own infrastructure.... I would like to be a fly on on the wall in Chavez's office when it gets down to $20 plus
For the record I'm scaling into oil at these levels. Putting about 20% of my networth into oil here, now. I can see oil going lower but at some point I'd like to think there will be a short covering rally. I am willing to double down twice, but way lower... and I may add very small along the way.
Jaja, noo, he is changing his mind after ruined the forecast: âThe financial services firm Merrill Lynch says oil could dip as low as $25 a barrel next year as the global recession takes hold. Goldman Sachs, which has revised its 2009 projections three times, has a slightly more bullish outlook, forecasting that crude prices will average $45.â http://www.rferl.org/content/The_Perils_And_Pitfalls_Of_Oil_Price_Forecasting/1360914.html The price of oil remains uncertain, but one would expect more falling, uyyy
http://www.stratfor.com/weekly/20081215_falling_fortunes_rising_hopes_and_price_oil after u read this article, you will know that you are a fool. Saudi Arabia and Kuwait are relatively safe.