Anybody Super Bullish on Oil

Quote from oldtime:

yes, I'm well aware of the general consensus, they repeat it everyday on CNBC like parrots. got it?
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You bet....I keep them on mute most of the day....until somebody really interesting is interviewed. I do like Fast Money however.
The gold and oil correlation may have some merit. A slightly risk-on trade might be short gold, long oil. ETF's of GLD/USO.
However, I haven't peeked at the ratios lately.
 
Quote from syswizard:

You bet....I keep them on mute most of the day....until somebody really interesting is interviewed. I do like Fast Money however.
The gold and oil correlation may have some merit. A slightly risk-on trade might be short gold, long oil. ETF's of GLD/USO.
However, I haven't peeked at the ratios lately.
More...
I follow an etf symbol DBC. It's 50% crude, heating oil and RBOB and the other is mostly Gold, Aluminum and some corn and wheat. It's inverse correlation with DX is really I think the crux of the matter. So crude and the Dow and everything else are in the same boat, that's why they move together, but it's not the economy world wide or domestic, but how much is a dollar worth and what will it buy?
 
Quote from oldtime:

but it's not the economy world wide or domestic, but how much is a dollar worth and what will it buy?
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That was certainly the case for today's market action.
The EURO finally goes down hard.
Still, it's nowhere near where everyone said it would be: parity on the USD.
I don't think it's gonna happen.
 
Super bullish on oil?? I told upside was limited, anyone who thinks oil can sustain $100 + in this slowing economy is foolish.....
 
Quote from S2007S:

Any upside in oil is very limited unless they shut down exports which I dont think would happen, if it did it would send oil to $150-$200 a barrel and that would certainly cause a global recession. So oils upside is limited, I see more downside than upside, of course it could go to $110-$125 just based off of news that Europe is going to avoid a deep recession, but by that point it would be safe to say oil is overvalued and due for at least a 50% correction.
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And the correction has already started.

Remember how bullish everyone was on oil above $100, look at everyone one changing their opinions now on it.

By the way gas near me is still $4.00 even though a barrel of oil has fallen over $25.
 
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