In SCO, only 1/2 position @ $9.45, next 1/2 is at 110+ FROM here on in any move higher in oil will translate into downward pressure on equities, period!!!! Anyone who thinks higher oil prices and higher equities prices are going to be linked as one going forward has got it all wrong.
You might but not the other tens of millions of people, yesterday on the news they were already starting to interview people at the gas pumps filling their cars asking about what they are going to do about higher gas prices, it reminded me of a few years ago when oil top $150 and tanked over 70% months later. Higher oil prices cannot be sustained in this economy, CANNOT be sustained!!!
Like I said BRING 140 son! It will be like 08, my best year ever making money for me and my clients. BRING IT!!!!!! This will not be a fly by night run up Son. It will be a new support level. Oil above 100 is fine by me and my clients. I've watched this stupid stock market go up on bullshit, I even tried to short the SPYs and lost. Now my game, OIL and Raising money to Drill is back on fire...and now we get this gift....oil heading higher. I can double what I made in 08 and my clients and triple if not more. I don't give a fuck if it only last through summer. It's a gift. Tripple prices on steady production. Wells pump 40 years out. More money will flow into Domestic Drilling projects....We have 4 projects in the process of funding and ever since the middle east blew up.....these projects have double timed as far as investors jumping in. Now, with oil working near 100......more "Make hay while the sun shines" attitudes! nothing last forever. But when it comes, you take as much as you can to build your wealth.
FYI, before I head in to a conference call..... If you have not noticed...regardless of the "Oil" Price, the US economy is heading back into a Recession. Forget the bullshit numbers report in consumer Confidence, or the ISM reports, or even the stock market level. It's all smoke and mirrors. We are not heading for recovery, we at best are in a stagflation mode....with 80% chance of heading back into a very bad recession.
True, and a little bit of problems out of Saudi Arabia and oil prices will literally skyrocket over night, I would think an easy $25 a barrel, you could easily see oil break $150+ quicker than in it did last time in ran up.
Of course its smoke and mirrors, I have been saying this for months myself, anyone believing this is a turn around in the economy is a complete fool, all this turn around is Bubble ben bernanke using easy money policies and trillions and stimulus.