Discussion in 'Trading' started by makemyday, Dec 19, 2006.
crude back to 68+, many talking heads are saying that oil isnt headed any higher than 65. Wait till it breaks out and heads back to 70.
Plus we know that our friends in Iran and Venezuela won't let that happen.
Let it go down that is.
exactly...well said !
it just seems the honeymoon pullback in crude is over as we enter the winter season...
wait till winter finally gets here... Im suprised to see oil trading at 62+ right now with temps in the northeast around 45-55 degrees. I would have thought they could have pushed it down to 52-54, guess not. Expect 65+ on the next big drop in temps across the northeast.
Let's face it we all want crude pries to go down: good for everyone.
But as long as the Geo-political situations remain, and we have such people in charge in Iran and Venezuela, I just don't see prices falling much more from here.
In any event I just watch the commercials, they're definitely smarter than me.
and watch tomorrow's reaction to crude inventories number @ 10:30 am for continued sentiment
Oil is going to 90 per barrel come this summer. The summer will be a bad one. Stock market tanking, recession everywhere, home prices in the dust, inflation out of control, US still in IRAQ, but oil will be in bull mode.
Think of USO as MA over the summer. Pile into the USO now because it will be at the same levels soon enough. . .
No its not good in the long term.
We need oil at $100 or $200 right now so we stop wasting the stuff.
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