Oil.. Back on the table?

[Comptalk]

Is oil now a play again? My Oil holdings are up today.

 

[tomjohn]

so are mine....so what?

 

[Comptalk]

Point being, people were saying Oil was going to the low fifties, its now back over 60. Which way to play?

 

[S2007S]

i might regret this but i predict 68 a barrel by jan-feb time frame

 

[myminitrading]

The weekly chart is clearly in a up trend, I guess you have to ask yourself, are less people using energy? Is demand falling? Is the world getting smaller? Is their an endless supply of oil?

After answering these questions I think you may have an answer.

 

[myminitrading]

Quote from S2007S:

i might regret this but i predict 68 a barrel by jan-feb time frame

I would have to agree.

 

[apex82]

http://elitetrader.com/vb/showthread.php?s=&threadid=80994

 

[TorontoTrader2]

Quote from myminitrading:

The weekly chart is clearly in a up trend, I guess you have to ask yourself, are less people using energy? Is demand falling? Is the world getting smaller? Is their an endless supply of oil?

After answering these questions I think you may have an answer.

Nice chart it gives good perspective.

 

[tomjohn]

Quote from Comptalk:

Point being, people were saying Oil was going to the low fifties, its now back over 60. Which way to play?

Interesting that crude is down 27% from the 6 month high, yet a number of producers and drillers are now pushing their 6 month highs from the early October bottom.

Also interesting to me is that the early october double bottom in $BPENER at 19.23 was the perfect buy point (in hindsight) of just about every energy stock I follow, including coal.