Jim Rogers: Oil will hit $100

[hypostomus]

Futures peaked at $76.60.

 

[scriabinop23]

Quote from zdreg:

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

]

nymex's home page. go get jan 07 $85 options for $2.71.

http://www.nymex.com/lsco_opt_cscal...st1=A&list2=7&session=C&putcall=C&prefix=lsco

I think these will be offered via globex soon so you can use an IB account to buy them - possibly by the end of the year.

 

[hypostomus]

High today $77.325. Broke out of the old long term channel and is solidly in the middle of the newer intermediate term channel.

 

[2cents]

{bump}

 

[jsmooth]

so whats everyone think of crudes price action these past few sessions?

buy the dip; or continue too sell, sell, sell

 

[scriabinop23]

Quote from jsmooth:

so whats everyone think of crudes price action these past few sessions?

buy the dip; or continue too sell, sell, sell

i'd wait until the petroleum status report on Weds. there might be more downside.

 

[Avid_Consumer]

i had a dramatic ride trying to punt it from 2 weeks ago and ended up with nothing. i'm lightening up on that expectation, back to conservative nibbles if at all for a few days prolly

 

[moo]

Quote from BrandNewTrader:

There's no debate, oil is going up, maybe way up (150, 200). Anyone who disagrees either doesn't understand the current state of global geopolitics or is making an ill-fated attempt to make the contrarian play.

Ha! Sounds like we have seen at least a short-term if not THE FINAL top in oil. Just a bit too many voices shouting this same message everywhere. (btw, where are they now?? very quiet here in the last few days)

Perhaps the PEAK OIL theorists mean a peak in the PRICE of oil?

 

[moo]

Quote from edil:

This electric car is here now with driving cost of 1 cent per mile. Beats the Ferrari and the Porsche too. It is expensive now but I am sure competitors will come around.

http://www.teslamotors.com/
. 100% electric
. 0 to 60 in about 4 seconds
. 135 mpg equivalent
. 250 miles per charge
. about 1c per mile

Now this sounds like a really really nice car. Wonder how much will it cost. How long will the batteries last, and how much will it cost to replace them? Are they going to sell this power system to other manufacturers too?

 

[2cents]

round $100K... see 2nd link/url http://www.elitetrader.com/vb/showthread.php?s=&postid=1158291#post1158291