Oil rises to new six-month high.....Do I hear $75, $100, $150, $300

Quote from canuckrookie:

it was a joke when it was scraping around 35 and its now a joke again at over 80.
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Although I haven't calculated the R squared for S&P 500 and $WTIC, I assume that it is very high.

Since March 2009, oil has joined other asset classes, such as US equities, in the meltup in risk assets.

So if oil is a joke over 80, then the S&P 500 is a joke over 1120.
 
Quote from m22au:

Although I haven't calculated the R squared for S&P 500 and $WTIC, I assume that it is very high.

Since March 2009, oil has joined other asset classes, such as US equities, in the meltup in risk assets.

So if oil is a joke over 80, then the S&P 500 is a joke over 1120.
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There both jokes due to the fact the economy is being pumped up by stimulus and liquidity. All they are doing is creating new asset bubbles to push the economy along, again this will create great problems in the future. It will be ignored until it cannot be ignored any longer and then will witness another collapse in the economy like we always do due to greed and lack of control.
 
KEY COMMODITIES
*OIL
81.88 +1.67 +2.08%


As long as equities advance oil will as well, however the breaking point in my opinion is sooner than later, you cannot have equities in rally mode while oil skyrockets to $100+ a barrel, all the out of work people will not enjoy paying $4.00 a gallon. Remember all those millions of people out of work aren't making free money in the stock market like the big guys are.
 
Quote from S2007S:

KEY COMMODITIES
*OIL
81.88 +1.67 +2.08%


As long as equities advance oil will as well, however the breaking point in my opinion is sooner than later, you cannot have equities in rally mode while oil skyrockets to $100+ a barrel, all the out of work people will not enjoy paying $4.00 a gallon. Remember all those millions of people out of work aren't making free money in the stock market like the big guys are.
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I agree with most of what you're saying. The big question is what oil price is sufficiently high to kill off (1) stockmarket rally and (2) economic activity.

I think the answer to #1 is "over $90", which means there's nothing stopping the stockmarket from going up at least 10% from today's levels.

In the big scheme of things, it's important to note that oil rallied more than 100% from its lows of late 2008 and early 2009, despite the economic contraction in the US and other countries. To me this suggests that the we are experiencing the "bumpy plateau" on the global oil production curve, and that peak oil may become more obvious in years to come.
 
*OIL
84.75 +0.99 +1.18%



New high for 2010!!!!!

I cant wait for $3.50 a gallon!!!!!!!!!!!


:D :D :D :D :D


The driving season hasn't even started, getting ready for $100 oil, inflation here we come.
 
Quote from jffhntr123:

what neither of you get is that your normal fundamentals about a functional economy and the stock market dont apply here. unemployment is atrocious and going to rise yet oil is still at 70$? so obviously the economic recovery/domestic demand argument for why oil should be low is invalid. equating "economic recovery" and a higher price of oil is mass media propaganda. taking buzz words from the media that claims to equate cause and effect is ridiculous. the U.S. economy is going into a sever inflationary depression. Business cycles are not "normal" they are caused by central bank credit expansion (see Murray N. Rothbard, Ludwig Von Mises, F A Hayek and others). the only thing that matters with the price of oil is INFLATION (increase in the money supply). thats it. Oil is going up - to 100 and beyond. when? cant say for sure but it is and its not because of an economic recovery although you could say it is because of an indirect global recovery when our creditors let us go. the u.s. is going into a depression and oil will be over 100$. stop watching television and start reading a book.
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sounds about right. there is nothing normal about whats gone on in the last 12 months. Bernanke doesnt know what he is doing. one way or another our debts need to come down.
 
Quote from Ivanovich:

Personally, I think he knows and wants to raise rates once the banks are on sure footing. I think he keeps QE going with more purchases, but raises rates.

Bernanke has always been only about the banks. He doesn't care about the public.
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. The only way to go back is to have the public gone on another out of control borrowing binge.

Essentially in order to survive we have to go back to what caused the collapse
 
Quote from S2007S:

KEY COMMODITIES
*OIL
81.88 +1.67 +2.08%


As long as equities advance oil will as well, however the breaking point in my opinion is sooner than later, you cannot have equities in rally mode while oil skyrockets to $100+ a barrel, all the out of work people will not enjoy paying $4.00 a gallon. Remember all those millions of people out of work aren't making free money in the stock market like the big guys are.
More...
Is there a disadvantage to requiring oil speculators to take physical delivery of the product?
 
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