$70 approach on Oil

[SethArb]

$70 just printed .... on NYMEX OCT CL

anyone short VOL's in nat gas options without being hedged somehow is going to get crushed monday am unless it comes back in ... Nat Gas up huge

 

[toc]

"Crystal ball? Personal acquaintance with the Wizard Of Oz? What are you basing this on? Hope you're right!!!"

US is getting hit with bad news after bad....Katrina's effects have still to be seen.......Oil going down would be some relief from this tough season.

Make a prediction and feel happy about it.

Crystall Ball?......Nope but elliot wave, fibs etc. help a little.

 

[Arnie]

Not nearly as bad as I thought. So far anyway.

 

[sputdr]

If this storm even comes close to what they are predicting rigs and the refineries will be down for days.

3 dollar gas here we come

 

[jasonbraswell]

Quote from JayS:

First limit for Crude is a $10 move. Nat Gas is $3.

http://www.nymex.com/CL_spec.aspx

There are no limits on expiration day, which Monday is for natural gas.

 

[bestfriend]

It takes 13 days from a Presidential directive in order to start pumping from the Strategic Reserve. It can release up to 4 mill bbl per day for 100 days before the flow rate starts dwindling.

trust me when I say that if they opened SPR for Ivan, it will be opened for Katrina.

 

[drobin]

Yes, brothers & sisters black gold is in!!!