Oil.. Back on the table?

Is oil now a play again? My Oil holdings are up today.

 

so are mine....so what?

 

Point being, people were saying Oil was going to the low fifties, its now back over 60. Which way to play?

 

i might regret this but i predict 68 a barrel by jan-feb time frame

 

The weekly chart is clearly in a up trend, I guess you have to ask yourself, are less people using energy? Is demand falling? Is the world getting smaller? Is their an endless supply of oil?

After answering these questions I think you may have an answer.

 

I would have to agree.

 

http://elitetrader.com/vb/showthread.php?s=&threadid=80994

 

Nice chart it gives good perspective.

 

Interesting that crude is down 27% from the 6 month high, yet a number of producers and drillers are now pushing their 6 month highs from the early October bottom.

Also interesting to me is that the early october double bottom in $BPENER at 19.23 was the perfect buy point (in hindsight) of just about every energy stock I follow, including coal.