262$ Oil????

patbateman · Jan 27, 2006

http://money.cnn.com/2006/01/27/news/international/pluggedin_fortune/index.htm?cnn=yes

Oil pulled back from 68, went to 66.......and is bouncing again....almost back to 68. Will there be another leg up in the coming weeks? If i had to guess i would say we make new highs. But i posted this to get the advice of the professionals at ET! When do you think we will make new highs......and if so, how high do we go?

xtrhvydty · Jan 27, 2006

Buy the rumor? Oil this high means the Oil Sands/Defense/Gold stocks should benefit. Charts say long Oil/Gold/Defense/Oil. Check it out.

patbateman · Jan 27, 2006

I would have to say that i agree with the call on gold. Oil prices have nowhere to go but up........ I also like silver.....there was a massive technical breakout 2 days ago But, getting back to the thread i think we see 80 dollars a barrel before we see 50.

SWScapital · Jan 27, 2006

"Old turkey" would say "after all, it is a bull market you know!".

patbateman · Jan 31, 2006

71$ by next week.

energytraderus · Feb 1, 2006

Bateman's right: CLH6 taking out new highs following DOE bear report sell-off; funds buying here will buy above $75.

patbateman · Feb 1, 2006

Wow,

I dont know how to say this, but my opinion has changed completely......I am now bearish after the price action on wednesday, a massive failure after we touched 69 dollars , reaching new lows. I have to say we are headed back to 60 in the next month or so. (If i am not right, this is as good a buying opportunity as any.)

iceman1 · Feb 1, 2006

Quote from patbateman:

I dont know how to say this, but my opinion has changed completely......I am now bearish after the price action on wednesday, a massive failure after we touched 69 dollars , reaching new lows. I have to say we are headed back to 60 in the next month or so.

(If i am not right, this is as good a buying opportunity as any.)

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wow- now there's a committment !

patbateman · Feb 2, 2006

well, my short is playing out well, couldnt have timed it better, crude is getting smoked right now, yesterdays sell-off seemed to be a great indicator of a top