http://business.timesonline.co.uk/article/0,,8209-2147565,00.html ................................................................................................... Yeah....the public hype is too thick here... Katrina time ......
Hopefully a pullback so I can fill my lawnmower, but I expect it to be hitting highs a week away from Memorial Day.
libertad, Since you are so sure----why don't you back up the truck? Or are you fully invested on the short side? Heaven help you if you are!!! Oil hasn't run up yet. Wait till this thing gaps up----then, you shorts will be chasing it, just to get out!!! You are right about one thing----this is going to be a tsunami on the financial state of a lot of people!!! Short traders included!!!
Excellent Commentary All ............................................................ Nice pictures... Yeah....logic is... am I prepared to never see oil below $75 again... Could turn out 78..72..67.....or 77...100...100..120..120..120...120....80...75...65 You never know.....do ya... Be prepared...
Well now....Opec President agrees as well.... http://feeds.bignewsnetwork.com/redir.php?jid=a78697c037981ba3&cat=262fd6adf564928c
"OPEC President Edmund Maduabebe Daukoru predicted Sunday that oil prices would fall from their current high of just over $75 a barrel to stabilize in the "upper fifties to lower sixties" as political tensions ease." The president of OPEC predicting prices will fall That's like Exxon saying; "We're going to flood the world with oil to drive down the price. And we don't care about profits!" Maybe a little pullback, then $80 next stop...
the perceived certainty that crude will go higher now has about the same intensity/breadth of belief as it was with the dollar weakening when it was when it was 1.30+ against the euro... Q1
OPEC has less power on oil prices than you think. It's just diplomatic eyewash. I remember seeing a headline in the 1980s that OPEC thought oil would go to $5/barrel. Well.. And remember that guy who posted about shorting gold in the "Trading" section? Where is he now?