$59 and going down further. 3 months ago, the world is running out of oil and the sky is falling. Now, nobody wants oil at $60/bbl.
Fret not for the poor Arabs. Hussein will be wooed by his Arab brethren to somehow kick the price back over $100 again. See his list of donors? Politicians are adept at creating crises with which to steal taxpayer money.
Building more of a position in oil. Bought more at 64, buying more today. Long term play. 6 month oil target 90 Oil is still in demand, 90% of our products are oil based. Building positions in Natural gas as well. This is the biggest oportunity ever in OIL/GAS.
First of all, oil never should have been there. Classic bubble market. Yes, it will over shoot on the downside. How long have you been trading? This shit happens over and over in commodities markets.
Exactly. So there goes the efficient market theory - it's more like a casino floor. I bet in a few months, we'll be running out of oil again and oil will be at $90-$100.
Agreed, this is a great opportunity right now. Are you long the commodity itself or an ETF like DIG or DXO?
I bet you do. Especially when they come true. Then you have nothing to say. I suppose you think the people with money and power just sit at home, content, hmm? Idiot. Ignored. Go play, fuckstick.
Oil or commodity bulls should see what happened to the price of these during the depression. Why do you think farmers were going under?