OIL approaching $60....

I will add to this previous statement of mine by saying in addition to the above predictions, gasoline in the US will be over $4.00 a gallon by Oct 1, 2005

And as far as for fuel oil for heating the next winter, I don't even want to think about that right now...it will be rough for many..

 

i am considering shorting oil soon.

 

Wonder where MarketHankLutherSurfer has been?

Hey 'Surfy - still got that oil short? Probably getting a bit painful if ya do, like a wipeout on some coral...

Good luck.

C

 

I hope I am wrong and you are correct and that you make a killing...I have no position in oil at all but just feel the path of least resistance is still up...

We're in an entire new era here in prices...oil, homes, gasoline etc...but again, this is just my opinion and I truly hope you make a lot of money if you do go short..

 

well i agree with you that the momentum is still up, they wanna try 60 and above.. but i may short sometime soon.

 

I've been trading oil stocks but only long when they pull back near reasonable support. I don't hang around for lengthy periods either (unfortunately ;o)

I am not planning to short unless/until they break major up trend on a closing basis. Still plenty of kinetic energy in the stocks once that happens for a really nice trade or two.

It can be really painful to be on the wrong side of a strong trend.

 

Crude Oil Rises to New Record $60.46

Sunday June 26, 11:32 pm ET

By En-Lai Yeoh, Associated Press Writer


SINGAPORE (AP) -- Crude oil prices jumped to a new high of US$60.46 in Asian trading Monday amid concerns that supplies would not meet demand, especially in the United States, the world's largest energy consumer.

http://biz.yahoo.com/ap/050626/oil_prices.html?.v=10

 

Yep, I say for tomorrow crude will close above $60.00 and Google will for the very first time in its short history close above $300.00

 

Hehe...While I have no position in crude, I do have a couple of calls from GOOG making $$$$ once again....

Regardless if it deserves its price or not, Google is the 1 stock that people will be talking about at all the summer parties..Not INTC, Not eBay but GOOOOOOOOOOOG!

Powerful stuff behind it!

GO GOOG