Sell all your oil investment gains Monday

[mozirry]

Price will surely start to tumble and we probably won't get that $130'ish price again for quite a while

 

[nick1985]

Can I borrow your 8 ball?

 

[mshan]

Sell, Sell, Sell !!!

Link

 

[MovingTarget]

Even if it did tumble as you say, I wonder if it will affect prices at the pump at all for a while. The stationowners buy their oil from the main companies without much, if any overhead on sales. So, until they make up the costs for the gas they bought, it'll stay up. Usually by the time that happens though, somebody sneezes over in the ME and the price of oil recovers any previous slides.

 

[Pliablemoose]

I suspect everything will trend down next week:

"WASHINGTON (MarketWatch) -- The economy is being squeezed by higher prices on one hand and by a collapsing housing market on the other. Neither problem seems to be getting any better in May, economists said ahead of key economic data in the coming week.
Two government agencies will report on home building and on wholesale prices at the same time Tuesday morning, followed rapidly by a report from the Federal Reserve on industrial output.
The three reports -- coming within 45 minutes -- will be the highlights of an otherwise ho-hum week for economic news. "

 

[Tab]

Hmm...

Even in the heat of summer it's going to go down? Interesting.

 

[dmcowen674]

The criminals (speculators) are not affected by this so no change will occur monday.

 

[StageLeft]

200k is basically meaningless.

I still have a bet against somebody that oil will close at $89.99 or less by the end of the year at least one day and still hope to make the money. I've not yet given up on it. I am all but positive we'll not see $120+ for the next 6.5 months anyway, that's highly unlikely.

 

[bozack]

Originally posted by: dmcowen674
The criminals (speculators) are not affected by this so no change will occur monday.

Why you're still allowed to post here is a mystery to me.

 

[dmcowen674]

Originally posted by: Skoorb
200k is basically meaningless.

I still have a bet against somebody that oil will close at $89.99 or less by the end of the year at least one day and still hope to make the money. I've not yet given up on it.

I am all but positive we'll not see $120+ for the next 6.5 months anyway, that's highly unlikely.

Quite a couple of predictions there.

Have an insider?

 

[blackangst1]

Originally posted by: dmcowen674

Originally posted by: Skoorb
200k is basically meaningless.

I still have a bet against somebody that oil will close at $89.99 or less by the end of the year at least one day and still hope to make the money. I've not yet given up on it.

I am all but positive we'll not see $120+ for the next 6.5 months anyway, that's highly unlikely.

Quite a couple of predictions there.

Have an insider?

Well, in all fairness, you claim to have MANY insiders in just about every field...why not the rest of us?

 

[dmcowen674]

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: Skoorb
200k is basically meaningless.

I still have a bet against somebody that oil will close at $89.99 or less by the end of the year at least one day and still hope to make the money. I've not yet given up on it.

I am all but positive we'll not see $120+ for the next 6.5 months anyway, that's highly unlikely.

Quite a couple of predictions there.

Have an insider?

Well, in all fairness, you claim to have MANY insiders in just about every field...why not the rest of us?

I haven't spoken to my bud at Conoco since I left Oklahoma last year.

 

[blackangst1]

Originally posted by: dmcowen674

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: Skoorb
200k is basically meaningless.

I still have a bet against somebody that oil will close at $89.99 or less by the end of the year at least one day and still hope to make the money. I've not yet given up on it.

I am all but positive we'll not see $120+ for the next 6.5 months anyway, that's highly unlikely.

Quite a couple of predictions there.

Have an insider?

Well, in all fairness, you claim to have MANY insiders in just about every field...why not the rest of us?

I haven't spoken to my bud at Conoco since I left Oklahoma last year.

Well there you have it. You have insiders. Touche!

 

[Aimster]

oil is not going to drop

 

[blackangst1]

Originally posted by: Aimster
oil is not going to drop

It will. This is a bubble just as the tech bubble was and the housing market was. It'll pop.

 

[dmcowen674]

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: Skoorb
200k is basically meaningless.

I still have a bet against somebody that oil will close at $89.99 or less by the end of the year at least one day and still hope to make the money. I've not yet given up on it.

I am all but positive we'll not see $120+ for the next 6.5 months anyway, that's highly unlikely.

Quite a couple of predictions there.

Have an insider?

Well, in all fairness, you claim to have MANY insiders in just about every field...why not the rest of us?

I haven't spoken to my bud at Conoco since I left Oklahoma last year.

Well there you have it. You have insiders. Touche!

I said I had a source when I was there. It was the "Drive for Five".

For all intents and purposes their Mission was Accomplished.

Their loss of the assets in Venezuela at the hands of Chavez was more than made up for with the jump from $60 to $140.

They are more than happy.

 

[LegendKiller]

Originally posted by: Aimster
oil is not going to drop

Want to put a friendly wager on that?

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: Skoorb
200k is basically meaningless.

I still have a bet against somebody that oil will close at $89.99 or less by the end of the year at least one day and still hope to make the money. I've not yet given up on it.

I am all but positive we'll not see $120+ for the next 6.5 months anyway, that's highly unlikely.

Quite a couple of predictions there.

Have an insider?

I have studied enough history to comfortably engage in that bet and prediction. We all have as we've all been part of it recently (tech stocks, dotcom). I have not seen a good reason for the run up in oil and nothing I've read tells me that it's based on real fundamentals. Bubbles can last for years, but generally the faster and more ridiculously they rise, and this is in that category, the quicker they'll fall. My concern about the $89.99 is only the timescale; it may not happen this year. Also, it's caveated by any extreme circumstances like a world war or something. Clearly things like that would make a valid and potentially long term indefinite boost in oil. Otherwise, as things are now, these prices we're still seeing are total rubbish.

EDIT: My sig will stay as is until I'm either proven right or it's become clear I am a fool in this regard (like it's 2012 and it's still super-high, by then surely it'll be time to retire that ).

 

[SSSnail]

That and the seemingly strengthening dollar, could be.

But first, we need to find all the speculators, round them up and...

 

[Auryg]

I agree, but I wonder what the oil companies would come up with to try to keep the prices high. I wouldn't be suprised if they blew up some of their own equipment

 

[SSSnail]

Originally posted by: Auryg
I agree, but I wonder what the oil companies would come up with to try to keep the prices high. I wouldn't be suprised if they blew up some of their own equipment

You mean blow up some more of their own equipment.

 

[yllus]

There have been rumblings of an increase in oil output for weeks now, so no real surprise there. Those in control of such things are careful to never let a price surge go on for too long, else it'd give us incentive to cease our addiction. But prices never do go down afterwards...

 

[halik]

Originally posted by: LegendKiller

Originally posted by: Aimster
oil is not going to drop

Want to put a friendly wager on that?

Seconded... there is a bullish bias in the market, but more supply will drop it for sure.

 

[StageLeft]

Originally posted by: halik

Originally posted by: LegendKiller

Originally posted by: Aimster
oil is not going to drop

Want to put a friendly wager on that?

Seconded... there is a bullish bias in the market, but more supply will drop it for sure.

Stop using your brain. If you want to know where the market is going you need to bash your head in with a mallet and then throw a dart on a wall with random numbers. There is no rhyme or reason in it.

OIL UP $5 TODAY

It hit a record today, and yes this is after the 200k output. See, no sanity in the market at all )

 

[Slew Foot]

HAHA, WRONG!!