http://charts3.barchart.com/chart.a...divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix= http://charts3.barchart.com/chart.a...divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix= oil will do the same thing that wheat did for the next 3 months, these commodity bulls are always slow learners when it comes to getting out in a timely manner!
Yawwwn. Here we go again, trying to call the top of OIL. I heard this at 90, 95,100, 110, 115, 120, and i'll hear it at 140, which is around the corner. We will have a pull back, nothing to break 100, maybe touch 110 , maybe.
oil will correct....just a little bit of time and oil will be back below $105, its completely overbought. Picked up some DCR around $3.15 this afternoon, looking for $4-$4.50 over the next 2 weeks.
$140, possibility of course, if this is the case expect $4.50+ at the pump and some reallllly angry individuals, the consumer which makes up 2/3 of the economy will eventually tire out and GDP will fall hard over the next 12 months. As oil rises expect food prices to rise as well.
there are too many people in the world and not enough oil. barring a nuclear war and/or energy technology breakthrough (both unlikely) the oil will keep going higher for a while.
That's an oversimplication. The same argument could be made for housing/real estate/gold/agriculture. Oil is cyclical, and is tied to the USD. Oil was not going up that much, its just that the usd was in a free fall. Oil up to-day, as usd down. usd is heading back up. Oil usage comes down in recession. I'm short oil, and will happily wait for the reversal.
This is the start of the thrid leg, it will last 10-15 trading days and top at mid 130's. Understand in the USA $4.50 gallon gas is rough but doable. It is in the thrid world where the demand is from that will choke on the price first
Today was a thinly traded spec move made by traders in new york, they do it all the time in thinly traded partially closed holiday markets.............mlk holiday every year now, etc.....you saw that Sunday night bs move, watch the sell-off tomorrow as markets become normal with higher VOLUME!!!!!
You really can't help yourself, can you? Did they drop you on the floor of the delivery room when you were born? With all due respect, I have watched you for weeks and weeks buying the DUG and yet all you do is "average" a LOSER??? - - - And now you are buying into "DCR" that is losing its A$$ets and will cease trading on June 25th because the shares have moved 85% away from their initial price. Are you even aware of this? Do you know what you are doing? You sure don't sound like it. You've got to be "paper-trading". Otherwise, you'd be bankrupt by now.