Has Oil Bottomed?

[Kassz007]

Within say $5/barrel?

 

[crgarcia]

Oil may remain low, even if the economy recovers. It happened during the 90s.

 

[murray t turtle]

Looks like its putting in a bottom/process;
counter trend comment

 

[nazzdack]

0-1. The Middle Eastern producers may be compelled to up output in the face of "lower" prices in order to pay for all of their extravagant construction and social programs. I am hoping for a repeat of the mid-1980's and a re-test of $9.99 per barrel. We'll see.

 

[sumosam]

I agree that we are close....

 

[PohPoh]

Dow peaked at 14,000 and will run to 2800
Bonds peaked around 140ish and will run to 28
Crude peaked at 140ish and will run to 28...

Notice a possible trend?

Hang on, I need to hit the pipe...

 

[AMT4SWA]

I keep buying every new low in QM last couple of weeks so this is a good longer term opportunity imo (building a long term position trade). Play the cycling of price in a range until it breakouts to the north again in the months or years ahead.

 

[PohPoh]

Quote from AMT4SWA:

I keep buying every new low in QM last couple of weeks so this is a good longer term opportunity imo (building a long term position trade). Play the cycling of price in a range until it breakouts to the north again in the months or years ahead.

What month are you buying?
Aren't you worried that you are going to get bled by the cost of carry??