This is the last move for Crude --shaping up just like the wheat trade!

[Bigpipn]

You're going to step in front of that train and tell us it's going to stop?

The fact is, NO ONE knows where the top is with a weakening dollar, massive speculation, and growing global demand--either jump aboard long or get run over on the short side. Your choice.

 

[Daal]

Quote from S2007S:

You seem to believe that there wont be a correction anytime soon, as bluestreak said, and I agree, eventually someone will step in a do something. The consumer is already tapped out and $4.00+ gas isn't helping at this moment, many on cnbc think high oil prices are sustainable, they can keep saying that, but boy will they be wrong 12-18 months out when oil does break the spending habits of millions of consumers. You might as well welcome a negative GDP with super high inflation.

you need to do your homework my man. the last time oil consumption went down on a year to year basis was during the 81-82 downturn where the US was basically the entire world because the emerging economies were all living with subhuman wages and socialism. now they are growing faster with higher incomes and I dont think any serious economist is forecasting emerging economies recession

 

[Daal]

heck, roubini is not even forecasting a CANADIAN recession meanwhile production is going down on a lot of oil fields

 

[makloda]

Quote from S2007S:
You oil bulls make me laugh.....

Considering you're short oil there is not much reason to laugh for you is there:

 

[stock_trad3r]

Shorting oil is financial suicide. Thisis why so many people underperform the market. Trying to go against the trend usually results in getting burned badly. Why should oil go lower? Because it is too high or gone up 'too quickly'? Thats not a reason at all to short anything.

 

[Bigpipn]

Hell, rice was limit up today wasn't it?

The trend is your friend.

 

[S2007S]

All the oil bulls remind me of all the fools who thought the tech run in late 90s would last forever, we all know what happened, dont we?

When there is great anticipation in any market it is usually a sign of a top being near, oil will correct.

 

[The Kin]

Every time an ETer calls a top. Crude only grows stronger.

 

[dont]

Quote from S2007S:

All the oil bulls remind me of all the fools who thought the tech run in late 90s would last forever, we all know what happened, dont we?

W

I am just waiting for "This time its different" and therefore Oil can go to the moon.

 

[makloda]

Quote from S2007S:
All the oil bulls remind me of all the fools who thought the tech run in late 90s would last forever, we all know what happened, dont we?

And it reminds me of all the fools that started 'averaging' into massive short positions in bubblelicious tech stocks in 1998/1999/2000 who ended up blowing up way before the bubble eventually burst.