Oil at $5 - $10 a barrel ?
- Thread starter Humpy
- Start date
Its a wonder i can even read your TX TEA charts,Ribband7.LOL100% right.
Even a high correlation is NOT a prediction But You maybe right. I like Bunker Hunt[ oil + silver]+ bro Hunt was mostly [LOL]right. BUT He should NOT have tried to ''corner soybeans'' then the regulators knew they were rightly going after him ...... But while i dont speak despectfull about the fed- Bunker Hunt said ''buy comodities any f**l can run a printing press'' If you do buy commodities, you may want a selling plan..............................................NOT a prediction
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Good points Ace Power;
of course, oil is like real estate. Cost is not anywhere near the best way to appraise price.Some real estate appraisers do a cost approach- but that is for insurance purposes . I use replacement value, for insurance......myself, not cost. NO savvy seller or buyer expects to get something for cost. Some dealers gift things [give gifts, free]+ sell below cost-briefly to get you in thier store, so to speak.LOL I thought early in the year[not now, + May or June.....] they may ''pound'' oil to $40/+; more likely than oil @ $10.40, even with long term trends mostly UP.NOT a prediction
We been getting screwed by very expensive oil for years cause we can afford to be, let's face it, we are a country that drives anywhere, you see people drive a block to go to the 7-11 for a coke and then complain they overweight. And even if Crude gets to 18 bucks, refineries are going to keep unleaded gas price up. Except for us trading it, the "street" still has to overpay for gallon of gas. It is funny, crude can be tumbling down and takes weeks for the pump to go down pennies, but as soon as crude jumps a buck, BAMM, higher at the pump.
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Yes, good weighty point; but several dealers [TN]still give a cash price discount, on gasoline.
I'm not taking up for oil sellers, but many of them HAD to sell thier oil service stations. Because, i think it was , as Royal Dutch Sell oil noted, ''the oil downtrend, downtrend in duration 2015.....'' NOT only can traders get whipsawed, oil gasoline [retail sellers] got whipsawed, so bad in 2015 many of them in TN sold thier dealerships..... NOT a prediction British Pound contracts dated past SEPT 2017, are all UP.
I really can't see how a Mom and Pop station can make any money unless you only station for 100 miles. Plus with stricter EPA laws, you get tagged with your underground tanks not up to code, it like impossible for small operator to get it all dug up, remove old tanks then put in new tanks. Am thinking them sell property off without new owners knowing them have to remove old tanks if they put a new building on top of it. And old owner is saying "Tanks a lot for buying". Many of local stations around here are just vacant, can't afford to sell or dig up.
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Well the XOM has traders coffee-overpriced, But good LOL .But XOM traders coffee is cheaper than Starbucks Most all of them sell food ,oil by quart-LOL, fried chicken, Cokes, Pepsi. Mountain Dew-Yahoo.LOL+ tobacco..... I think EPA will change a lot in November 2016, not a prediction; Brit exit form EU is part of a big trend.EPA cant really make laws, some people bully; some people do not bully.
How is 20-25$ a fair price for oil in the long term? I just don't see it happening.
The primary Support, Resistance, Turn price levels are the Fibonacci numbers, then
prices generated by the various L-H, H-L Fibo levels of the Price Movement.
Projection Fibo levels give me the next price targets around $11 and $3.50 a barrel.
A more interesting question tho is, 'how long will the price stay at such levels ?'
prices generated by the various L-H, H-L Fibo levels of the Price Movement.
Projection Fibo levels give me the next price targets around $11 and $3.50 a barrel.
A more interesting question tho is, 'how long will the price stay at such levels ?'