Im looking at the ten day forecast. December 1 is going to be the start of a nice cold snap. A few weeks later OPEC is going to strangle the tap. On that day, December 1, all of the Nymex traders will be coming from the subways or the taxis or the limos or from their car in the parking garage...maybe some of them even live close and will walk it down there. Wherever they are, they will step out into the cold on that day and have one thought in their mind as they go to the exchange. That thought will be that oil is going much higher. The price of oil will walk up in the days that follow as the weather just gets colder. Then there will be that fateful day where CNBC is at the OPEC meeting with the Arabs standing their smiling as they strangle the tap. Then I will watch my small cap drillers, the penny stocks, the unmentionables here on elitetrader, go much higher. It will be an exciting day indeed. . .
We've already go a nice little cold snap going here in northern California, most likely the rest of the northwest too.
here in the REAL northwest we have had endless rain, but it hasn't been very cold. (darn northern cal people thinking they are in the northwest...)
its mild in the oil capital of the world houston.....went running yesterday......have the windows open in fact.......there is irony in there somewhere.