I see oil at 80 in a month.

Discussion in 'Commodity Futures' started by hajimow, Jan 16, 2008.

  1. hajimow


    My reasons:
    1-recession fear and slowing global economy
    2- short term pull back from its high
    3- Gut feelings !!
  2. So then you're short? Please post your active, live position.
  3. Knowing and wishing are two different things. Trade what you wish for and you will go broke.

  4. I'll up the ante.

    Please transfer the profits you are making to my account.

    I want the cash.
  5. about a week ago CIBC's world market advisory commented on the Energy market; especially the oil; put a forecast that oil is gonna to 120; since then oil has been falling; what joke.

    CIBC is such lousy company; only care about themselves :D
  6. hajimow


    I don't trade crude future. I just trade OIH and equity options. I use my sentiment on crude to find my direction on equity. I am wrong many times. I shorted OIH at 185 and it was a good trade. I believe if crude goes back to 80 and if it is added with a rate cut, can be very bullish for equities in the short term.
  7. where are you short from?

  8. Tums


    You mean you are a liquidity provider?
  9. junkone


    they are planning to make oil out of water. so it will be free shortly.
  10. hajimow


    A question:

    Will you buy a car that runs on coke or beer or wine or bottled water instead of oil? Definitely not. My point is that oil is dirt cheap. The reason is that middle eastern countries own some part of it and they can not price it right. What would be the price of oil if US or Europe owned all oil wells in the world? $500? I go with $2000.
    If I own 200 shares of OIH and its gain would be more than my heat cost in a year. Imagine how a big investor would feel about his investment vs oil and heat cost.
    #10     Jan 16, 2008