commodities are notorious for going parabolic, and then heading straight back down. been doing since way before the public was much involved in futures. Look at just about any long term commodities markets from platinum to grains to OJ to sugar, etc. They over shoot one way, and then over shoot the other. The dollar does this too. has for decades.
Hey, you're that Apple fan. You probably think Apple is headed for $350/share and oil $500/barrel. j/k
You doubt that, hmmmmm you will see a between a 30-50% correction in commodities when it does take place.
gas will easily be at < = 2.00 within the year. these 2.99 guaranteed gas price car promotions are sooooo bogus! surf
I hope you're right... but I think we all should leave open the possibility that the price stays high. After all, oil is unlike any other commodity... it really cannot be substituted nor have the capacity increased significantly in a short period (if at all, according to "peak oil" believers).
I cant stress enough that I am longterm bearish on the dollar which should be bullish for commodities, but everything can get overextended. real estate was an inflation hedge and look what happened.