I took profits in oil earlier today. Government is starting to get involved in trying to end the speculation.
At this point, I want to dig a hole in my backyard and fill it with oil barrels. Maybe fill my bathtub. Black gold!!!
Interesting question. I've got no idea myself at this point. I'm a peak oil proponent but still sold half my positions when it hit $110. Guess we are entering a brave new world.
Just looked at a 10 year chart of the XLE with monthly bars. I cant say there is anything bearish about that chart. I have a feeling we might be going much higher and soon.
why the thread is about OIL but the Poll I see is titled: "Should Baron get rid of William Rennick?"? is it just me?
The moron started the poll about oil and edited the name of the poll before the 30 min. was over. He didnt like the results of his original toss Rennick poll, so Einstein tryed to skew the poll with the old title switcharoo.. LOL, good stuff Skippy. This jackass should offer his services to Hillary. Rennick out http://www.elitetrader.com/vb/showthread.php?s=&threadid=127180