20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008

I

increasenow

Oil to NEVER hit $135.00 again...dated: May 22, 2008...here is why...read...
1-Many will continue to profit take as price target of $135 was hit
2-Dollar is getting stronger
3-Commodity bubble about to burst
4-there will be HUGE after memorial day sell off...watch for it...will start tomorrow, Friday May 23 ,2008
5-Next Wed EIA report will be massively bearish stating overstock of inventory...
6-monthly supply reports should show back up of inventory
7-when it begins, watch out, will fall hard...
8-much of upward price momentum has been short covering rally
9-Venezuala issues appear to be a 'non issue'
10-Iran supply issues are 'not there'
11-market did not budge when congress said no more stock piling invenotry
12-"irrational exuberance" in Oil cannot continue
13-gas prices will rise and demand will lessen thus ending demand for Oil
14-Green options (non Oil required...I.e. Wind farms etc.) will continue to grow
15-COT report will begin to show this...this lack of demand for Oil
16-the "prophetic" future contracts in months, years to come are price less then the current front month contract...so, traders are expecting that Oil price will and should decline!!!
17-Brent Crude is almost same price as WTI Crude thus indicating the 'devaluing' of the WTI Nymex product...
18-China etc.cannot keep current pace of 'craving' for commodities such as Oil etc.
19-Ethanol boom will become a 'bust' thus creating desire for 'purer' return to gas and normal Oil supply/demand
20-Inflation to be proven 'non issue' and price of Oil comes down as economy strengthens

Disclosure: this is my opinion only. Do your own research before buying or selling Oil futures or USO stock or USO options or even OIH, DUG etc..or anything Oil related...

PLEASE ADD YOUR POINTS #21, #22,#23...etc..
 
Quote from increasenow:

Oil to NEVER hit $135.00 again...dated: May 22, 2008...here is why...read...
1-Many will continue to profit take as price target of $135 was hit

will airlines and china stop buying oil at this price too??

2-Dollar is getting stronger

maybe

3-Commodity bubble about to burst

maybe

4-there will be HUGE after memorial day sell off...watch for it...will start tomorrow, Friday May 23 ,2008

volatility happens

5-Next Wed EIA report will be massively bearish stating overstock of inventory...

volatility happens

6-monthly supply reports should show back up of inventory

........

7-when it begins, watch out, will fall hard...

opportunity, just watch your ass

8-much of upward price momentum has been short covering rally

izzit??

9-Venezuala issues appear to be a 'non issue'

izzit??

10-Iran supply issues are 'not there'

how do you know what issues are there or not??

11-market did not budge when congress said no more stock piling invenotry

nice catch

12-"irrational exuberance" in Oil cannot continue

irrational exuberance in anything can continue longer than you can remain solvent......jesse livermore

13-gas prices will rise and demand will lessen thus ending demand for Oil

really??

14-Green options (non Oil required...I.e. Wind farms etc.) will continue to grow

agree

15-COT report will begin to show this...this lack of demand for Oil

so CTAs and commercials will no longer want oil at these prices or sell them at these prices?? could happen....

16-the "prophetic" future contracts in months, years to come are price less then the current front month contract...so, traders are expecting that Oil price will and should decline!!!

maybe they'll bring it down, maybe they'll get blown out of the water

17-Brent Crude is almost same price as WTI Crude thus indicating the 'devaluing' of the WTI Nymex product...

would like to know more about this - out of my understanding........

18-China etc.cannot keep current pace of 'craving' for commodities such as Oil etc.

you gonna bet on that??

19-Ethanol boom will become a 'bust' thus creating desire for 'purer' return to gas and normal Oil supply/demand

maybe maybe

20-Inflation to be proven 'non issue' and price of Oil comes down as economy strengthens

when does this happen??
More...
 
Quote from JSSPMK:

I don't know which make is your crystal ball, but weekly chart is still rather bullish
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Price is right at an overhead trendline on the weekly. Yes, it could break out above it, or even ride it's way up the line for a while. But if it's going to pull back this could be a good place for it.
 

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Quote from ess1096:

Price is right at an overhead trendline on the weekly. Yes, it could break out above it, or even ride it's way up the line for a while. But if it's going to pull back this could be a good place for it.
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You don't make a statement like the OP has, it feels silly to even post here, as nobody knows whether $135 will or won't be hit "ever again".
 
Quote from increasenow:

Oil to NEVER hit $135.00 again...dated: May 22, 2008...here is why...read...
1-Many will continue to profit take as price target of $135 was hit
2-Dollar is getting stronger
3-Commodity bubble about to burst
4-there will be HUGE after memorial day sell off...watch for it...will start tomorrow, Friday May 23 ,2008
5-Next Wed EIA report will be massively bearish stating overstock of inventory...
6-monthly supply reports should show back up of inventory
7-when it begins, watch out, will fall hard...
8-much of upward price momentum has been short covering rally
9-Venezuala issues appear to be a 'non issue'
10-Iran supply issues are 'not there'
11-market did not budge when congress said no more stock piling invenotry
12-"irrational exuberance" in Oil cannot continue
13-gas prices will rise and demand will lessen thus ending demand for Oil
14-Green options (non Oil required...I.e. Wind farms etc.) will continue to grow
15-COT report will begin to show this...this lack of demand for Oil
16-the "prophetic" future contracts in months, years to come are price less then the current front month contract...so, traders are expecting that Oil price will and should decline!!!
17-Brent Crude is almost same price as WTI Crude thus indicating the 'devaluing' of the WTI Nymex product...
18-China etc.cannot keep current pace of 'craving' for commodities such as Oil etc.
19-Ethanol boom will become a 'bust' thus creating desire for 'purer' return to gas and normal Oil supply/demand
20-Inflation to be proven 'non issue' and price of Oil comes down as economy strengthens

Disclosure: this is my opinion only. Do your own research before buying or selling Oil futures or USO stock or USO options or even OIH, DUG etc..or anything Oil related...

PLEASE ADD YOUR POINTS #21, #22,#23...etc..
More...

If you want to make pure price predictions (such as $135 will never be reached again) - you should be focusing on the technicals, not the fundamentals

Try again
 
Quote from bunds:

increasenow:

I just fucked your G/F while you wrote up all that crap.


I have 100 contracts and will sell at $248.

Your reasoning was talked about by every business guru on TV when it was $80 - talk is cheap - watch and learn.
More...

Is that really necessary, bunds? We all agree the OP is a bit off with his usual predictions, but you put yourself in the same age group with your off color and inappropriate commentary.
 
Quote from increasenow:

Oil to NEVER hit $135.00 again...dated: May 22, 2008...here is why...read...
1-Many will continue to profit take as price target of $135 was hit
2-Dollar is getting stronger
3-Commodity bubble about to burst
4-there will be HUGE after memorial day sell off...watch for it...will start tomorrow, Friday May 23 ,2008
5-Next Wed EIA report will be massively bearish stating overstock of inventory...
6-monthly supply reports should show back up of inventory
7-when it begins, watch out, will fall hard...
8-much of upward price momentum has been short covering rally
9-Venezuala issues appear to be a 'non issue'
10-Iran supply issues are 'not there'
11-market did not budge when congress said no more stock piling invenotry
12-"irrational exuberance" in Oil cannot continue
13-gas prices will rise and demand will lessen thus ending demand for Oil
14-Green options (non Oil required...I.e. Wind farms etc.) will continue to grow
15-COT report will begin to show this...this lack of demand for Oil
16-the "prophetic" future contracts in months, years to come are price less then the current front month contract...so, traders are expecting that Oil price will and should decline!!!
17-Brent Crude is almost same price as WTI Crude thus indicating the 'devaluing' of the WTI Nymex product...
18-China etc.cannot keep current pace of 'craving' for commodities such as Oil etc.
19-Ethanol boom will become a 'bust' thus creating desire for 'purer' return to gas and normal Oil supply/demand
20-Inflation to be proven 'non issue' and price of Oil comes down as economy strengthens

Disclosure: this is my opinion only. Do your own research before buying or selling Oil futures or USO stock or USO options or even OIH, DUG etc..or anything Oil related...

PLEASE ADD YOUR POINTS #21, #22,#23...etc..
More...

Thanks Porgie! Surprised you're not trend following like usual
 
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