Went up 10 cents overnight at my local Exxon here in Dallas. It has stayed @ 2.65 for regular unleaded for months. Jumped to 2.75 overnight, folks have been quite about fuel, once it gets to $3.00 you will here them start compiling once again. thank you federal reserve.
how long till rimm blows up? they can only stuff so much product down the retail channels. at some point it has to be sold...
Oil is damn close to as high as it has ever been in real terms, and it will definitely slow the economy if it stays this high. The longer it stays up here the more your buy and hold approach will end up burning you. Check out this study that BP put out and Reuters printed a few weeks ago: The following table from the BP Statistical Review picks out key moments in oil market history. It gives average annual dollar-denominated oil prices in money of the day and the equivalent price in 2006 money. Prices are in dollars a barrel. Year Money of Inflation the day adjusted 1864 - Pennsylvania oil boom 8.06 104.35 1876 - Russian oil exports start 2.56 48.64 1948 - Rebuilding post World War Two 1.99 16.74 1974 - Arab oil embargo 11.58 47.54 1979 - Iranian revolution 31.61 88.13 1980 - Iran-Iraq war starts 36.83 90.46 1990 - Iraq's invasion of Kuwait 23.73 36.76 1998 - Asian economic crisis 12.72 16.22 2003 - China 2nd biggest oil consumer 38.27 40.83 *2007 Year-to-date average 66.96 66.96 NOTE: 1861-1944 - U.S. average 1945-1983 - Arabian Light posted at Ras Tanura 1984-present day - Brent dated *2007 U.S. crude
will likely touch 200.. as incidentally sources inside bilderbergers told us back in 03 that kissinger, backed by representatives of the oil cartel, saw necessary to propel oil prices into the 100 within a few years... ...now, from the latest Ottawa meeting, intel again tells us the very same ole' henry want to see oil go over 200. now, regardless your view on the secret meetings significance, these intel sources from inside have proven to be very reliable over the years. worth listening and be prepared.
I'm wondering when the redneck rebellion will come. There is only so much elasticity built into that Friday afternoon paycheck. Let's break it down. 2 cases of Old Milwaukee 2 cartons of smokes Lotto tickets 3 trips to the the dog track a night out on the town at Red Lobster After all that there isn't much room left to tank up the '78 Chevy truck 454 (7 mpg) at $4.00 a gallon. The shit's gonna hit the fan and some mofo better have an answer. And it ain't going to be a G*ddamn Prius!
Won't be long and producers will want to be payed in EUR's or anything but $$'s. See what happens then to gas-prices: dollar will be dumped and worthless and the price of oil payed in dollars will be around 400. I think there will be no dollar anymore by that time. And no buyers for your dollar-denominated stock either. You can buy-and-hold just as well. Ursa..
I have not been short oil in a long time, but last night I entered a SHORT swing trade after a perfect higher time frame signal followed by a great candlestick. I took profits for 1/4th of the position at 92.51 and I have another target at 91.51 to pull off another 1/4th. My stop is now at 93.50 and my target over time for the remainder of the position will be 83.51 and then 73.51 .
I dont..I just look for entries per the method I use that are fully within the exact criteria. Once I see a potential signal developing on the higher time frame then I look for a specific entry trigger on a lower time frame chart for a "dual confirmation" trade. The airlines seem to have so many variables so I have never used them as a tie into trading oil.