recent oil pullback was not due to reduced demand from world economies. It was driven by supply side - largely by lack of hurricanes that were priced in before the summer. Also the economic outlook got a little bit more hazy due to factors like housing - which lead many people to misinterpet it as a lack of future demand for oil - which is obviously off the mark. With housing and 2005 hurricanes effects stripped away the US growth is relativelly stable at around 3 % for at least the past 6 quarters - so where is the recession.... On top of that the world growth outlook for 2007 is about the same as 2006 (actual).
Let me introduce you to my good friend HOFF. http://stockcharts.com/h-sc/ui?s=HOFF&p=D&b=1&g=0&id=p79699517263 He has never failed me to deliver a bright and happy Christmas. Notice what happens right in December on the chart... Small float. I make fun of Eric Bolling, but I actually like the guy. When he starts wearing the puffy jacket, then its time for my friend Hoff. All those traders going to pile in buddy HOFF and he just going to take off like he was taking flight off the deck of the USS Nimitz. HOFF is a tempermental guy though. So best to hang around him only in December and January. Leave him alone on all other dates.
you have the special priviledge to be the first in my <i>ignore</i> list....so sry I will not see your posts anymore....
I take it you dont like HOFF. Dont worry. My army of drillers, pipers, servicers, integrated, and refiners is READY TO RUMBLE! Sorry guys. No more Google, no more Mastercard, no more NYX. Time to short those guys. I am starting to have flashbacks from the days of watching Hulk Hogan on the WWF. Its time to bring down the champs and time for the ring of evil to dominate the ring once more. Lex Luther is back to short Mastercard, short Google, short the chips, short the tech and buy the energy...and yes, how could I forget, BIDU TO TANK BELOW 85. RRRROOOOOORRRRR!!!!
plays that are heavily leveraged to oil price are nice, as are just simply trading crude futures. i prefer to trade crude futures over most oil stocks. also, i have been long BQI for a couple of weeks because it ramps when oil ramps today was VERY VERY nice for BQI
Where is that guy with the fancy pictures of the oil guy rolling up his sleeves and taking it in the arm?
What others do you have? I liked the action on BQI and it shows no sign of letting up. I think it will double in price by January. After that, I think its time to sell.
Im banging the oil barrel and this is my last post in this thread. I dont see any other obvious play. Lots of short interest in the energy faves. When you go outside on Monday and feel it, shorts are going to covering. Im banging the oil barrel. Hope someone is listening. Thank you for BQI. Love it!!! Oil Approaches $61 on Weather, OPEC Tuesday November 28, 4:39 pm ET Oil Prices Rise on Suggestions of Further OPEC Cuts, Cold Forecast for U.S. WASHINGTON (AP) -- Oil prices rose toward $61 a barrel Tuesday on concerns about winter weather, a December OPEC meeting and violence in Iraq. A decline in the U.S. dollar, the currency in which oil is priced worldwide, has also helped to push crude-oil higher, analysts said. However, longer-term, the falling dollar might actually have the opposite effect, since some oil producing nations may be encouraged to pump more crude in an effort to keep their petroleum revenues from falling. In less than two weeks, the front-month crude-oil futures contract has climbed by more than $5 a barrel, but prices are still trading within a range that has been roughly in place since the start of October. "We've hit equilibrium," said Liberty Trading Corp.'s president James Cordier. "OPEC upped the ante this week by saying they're going to reduce production again," Cordier said, but the market could easily fall back unless solid evidence emerges that the cartel's members are sticking to their October pledge to trim output by 1.2 million barrels. A.G. Edwards commodities analyst Bill O'Grady added that "if the dollar decline gets legs, you could see the cartel start to cheat," or not rein in as much output as promised. It would likely start with just a few OPEC members, but others who had been holding back their production might follow, lest they give up market share. On Tuesday, traders were focused on reports that called for wintry U.S. weather in the West to gradually move to the East by the end of the week. The only question, Cordier said, is how long it lasts. "If that cold weather lasts for only one week, the market's not going to rally," he said. On Monday, oil prices were lifted by more than $1 a barrel after an attack on an Iraqi oil facility and comments from Saudi Arabia's oil minister suggesting further production cuts by the Organization of Petroleum Exporting Countries, which meets in Nigeria next month. Light, sweet crude for January delivery rose 67 cents to settle at $60.99 a barrel on the New York Mercantile Exchange. On Nov. 17, the December contract settled and expired at $55.81 a barrel. In London, January Brent crude rose 77 cents on the ICE Futures exchange to settle at $61.21 a barrel. Nymex heating oil futures gained 2.31 cents to settle at $1.7283 per gallon, unleaded gasoline futures surged 3.29 cents to settle at $1.6266 a gallon and natural gas futures rose 32 cents to settle at $8.318 per 1,000 cubic feet. Natural gas futures reversed three days of losses Monday on forecasts calling for colder weather across the U.S. over the next two weeks. London-based newspaper Al-Hayat reported Monday that Saudi Oil Minister Ali al-Naimi had indicated that OPEC would evaluate the effect of October's decision to cut output when it meets next month in Abuja, Nigeria, and if necessary authorize another cut. "We think that as the meeting's date closes in, the cartel will close ranks and coalesce around a position of supporting a cut," said Edward Meir at Man Financial. "If members leave the meeting without cutting, prices could sink even further." Oil prices have fallen by about 23 percent since hitting an all-time trading high above $78 a barrel in mid-July. They haven't settled above $62 a barrel since Oct. 1, despite the OPEC's announcement in mid-October that it would reduce output by 1.2 million barrels a day. Skepticism that OPEC members are committed to production cuts, as well as milder-than-normal U.S. temperatures this fall, have moderated prices.
Im banging the oil barrel and this is my last post in this thread. I dont see any other obvious play. Lots of short interest in the energy faves. When you go outside on Monday and feel it, shorts are going to covering. Im banging the oil barrel. Hope someone is listening. Thank you for BQI. Love it!!! Oil Approaches $61 on Weather, OPEC Tuesday November 28, 4:39 pm ET Oil Prices Rise on Suggestions of Further OPEC Cuts, Cold Forecast for U.S. WASHINGTON (AP) -- Oil prices rose toward $61 a barrel Tuesday on concerns about winter weather, a December OPEC meeting and violence in Iraq. A decline in the U.S. dollar, the currency in which oil is priced worldwide, has also helped to push crude-oil higher, analysts said. However, longer-term, the falling dollar might actually have the opposite effect, since some oil producing nations may be encouraged to pump more crude in an effort to keep their petroleum revenues from falling. In less than two weeks, the front-month crude-oil futures contract has climbed by more than $5 a barrel, but prices are still trading within a range that has been roughly in place since the start of October. "We've hit equilibrium," said Liberty Trading Corp.'s president James Cordier. "OPEC upped the ante this week by saying they're going to reduce production again," Cordier said, but the market could easily fall back unless solid evidence emerges that the cartel's members are sticking to their October pledge to trim output by 1.2 million barrels. A.G. Edwards commodities analyst Bill O'Grady added that "if the dollar decline gets legs, you could see the cartel start to cheat," or not rein in as much output as promised. It would likely start with just a few OPEC members, but others who had been holding back their production might follow, lest they give up market share. On Tuesday, traders were focused on reports that called for wintry U.S. weather in the West to gradually move to the East by the end of the week. The only question, Cordier said, is how long it lasts. "If that cold weather lasts for only one week, the market's not going to rally," he said. On Monday, oil prices were lifted by more than $1 a barrel after an attack on an Iraqi oil facility and comments from Saudi Arabia's oil minister suggesting further production cuts by the Organization of Petroleum Exporting Countries, which meets in Nigeria next month. Light, sweet crude for January delivery rose 67 cents to settle at $60.99 a barrel on the New York Mercantile Exchange. On Nov. 17, the December contract settled and expired at $55.81 a barrel. In London, January Brent crude rose 77 cents on the ICE Futures exchange to settle at $61.21 a barrel. Nymex heating oil futures gained 2.31 cents to settle at $1.7283 per gallon, unleaded gasoline futures surged 3.29 cents to settle at $1.6266 a gallon and natural gas futures rose 32 cents to settle at $8.318 per 1,000 cubic feet. Natural gas futures reversed three days of losses Monday on forecasts calling for colder weather across the U.S. over the next two weeks. London-based newspaper Al-Hayat reported Monday that Saudi Oil Minister Ali al-Naimi had indicated that OPEC would evaluate the effect of October's decision to cut output when it meets next month in Abuja, Nigeria, and if necessary authorize another cut. "We think that as the meeting's date closes in, the cartel will close ranks and coalesce around a position of supporting a cut," said Edward Meir at Man Financial. "If members leave the meeting without cutting, prices could sink even further." Oil prices have fallen by about 23 percent since hitting an all-time trading high above $78 a barrel in mid-July. They haven't settled above $62 a barrel since Oct. 1, despite the OPEC's announcement in mid-October that it would reduce output by 1.2 million barrels a day. Skepticism that OPEC members are committed to production cuts, as well as milder-than-normal U.S. temperatures this fall, have moderated prices.