You're going to step in front of that train and tell us it's going to stop? The fact is, NO ONE knows where the top is with a weakening dollar, massive speculation, and growing global demand--either jump aboard long or get run over on the short side. Your choice.
you need to do your homework my man. the last time oil consumption went down on a year to year basis was during the 81-82 downturn where the US was basically the entire world because the emerging economies were all living with subhuman wages and socialism. now they are growing faster with higher incomes and I dont think any serious economist is forecasting emerging economies recession
heck, roubini is not even forecasting a CANADIAN recession meanwhile production is going down on a lot of oil fields
Shorting oil is financial suicide. Thisis why so many people underperform the market. Trying to go against the trend usually results in getting burned badly. Why should oil go lower? Because it is too high or gone up 'too quickly'? Thats not a reason at all to short anything.
All the oil bulls remind me of all the fools who thought the tech run in late 90s would last forever, we all know what happened, dont we? When there is great anticipation in any market it is usually a sign of a top being near, oil will correct.
And it reminds me of all the fools that started 'averaging' into massive short positions in bubblelicious tech stocks in 1998/1999/2000 who ended up blowing up way before the bubble eventually burst.