Jim Rogers: Oil will hit $100

[marketsurfer]

Quote from hypostomus:

Does $75.50 warrant an "I told you so."?

i take it this was directed to me. forgive me, if not.

i am still confident in my short oil position, and no, only 80 will warrant anyone to tell me " i told you so"

i still have one entry remaining on this short out of 3.

good luck!

surf

 

[limitdown]

Quote from marketsurfer:

thank you, speculator. i wish you prosperity, as well.

i believe my data/information is accurate, and am confident in the position.

short from 75.50 average.

surf

gfu


good for you!


I started a thread on the coming decline in oil prices and all the lies that have been pushed to the fore in the business press to artificially justify higher and higer prices,

there is such a vacuum and spiral supported on literally nothing other than manipulation of the US Business press, and the press in general to try to support these astronomical prices....

this vacuum will equalize and to the surprise of many, and certainly (hopefully) not higher!

gfu!

 

[2cents]

guys... the mkt is the mkt... if a hurricane strikes or a bunch of terrorists blow up key pipelines somewhere for instance, your guaranteed oil WILL spike, and above $80... money management rules, pls...

 

[hypostomus]

Bit of a surprise to the consensus expectation from the oil inventory report, hahaha! High of $76.50 and pennies. Lions, tigers, and BEARS, oh my!

 

[smilingsynic]

Rogers is a long-term investor. Over the long term, why couldn't oil hit $100, or even $200?

I read recently that Dr. Taleb is betting that in the next three years or so that oil will hit either $10 or $300.

Either of those is extremely unlikely, which is why he is making that bet.

 

[zdreg]

interesting post. how does he make these bets and how much does it cost?

 

[scriabinop23]

Quote from zdreg:

interesting post. how does he make these bets and how much does it cost?

the lowest risk and cheapest way is probably buying futures options.

 

[hans37]

WATCH OUT for those HIZBOLLAH traders they know something you don't.

 

[zdreg]

Quote from scriabinop23:

the lowest risk and cheapest way is probably buying futures options.

doesn't sound right. they are too far out of money. are they on an organized exchange or privately negotiated

 

[capmac]

Major Alaskan Oil Field Shutting Down

Sunday August 6, 11:45 pm ET

By Mary Pemberton, Associated Press Writer

Corrosion, Spill Prompt Shutdown of Alaska Oil Field in a Sudden Blow to Nation's Supply

ANCHORAGE, Alaska (AP) -- In a sudden blow to the nation's oil supply, half the production on Alaska's North Slope was being shut down Sunday after BP Exploration Alaska, Inc. discovered severe corrosion in a Prudhoe Bay oil transit line.

http://biz.yahoo.com/ap/060806/oil_field_shutdown.html?.v=13