Time to get Long Oil

This past Fri, OPEC stated they didnt want oil to fall below $100. If it does, expect them to announce production cutbacks.
 
Oil cannot be a true bubble. The price of oil is volatile. That is all. I am an oil bull in the long run. In the short run, no idea. I do not think you guys know either.
 
I'm just curious what makes you a long term oil bull. The fact that new sources are being found and developed everyday. Or the fact that we already have more oil than we can use? Don't take that the wrong way. I'm really just trying to figure out how you can be bullish oil. IMO it was like every other asset class that has ever experienced a bubble. It will settle back at its true value in the next year or so.
 
Quote from Nickvac:

This may be all conspiracy theory but i truly believe the dip oils taken over the last month is a ploy to make our economy look better than it is for the election. Critics will site demand destruction but demand destruction was evident even when oil climbed into the 140's. The Highway Transportation agency had already hinted at that when they released average miles driven for July as being the first time since the 70s that there had been a decrease. With all this in mind I expect to see oil rise sharply after the election and I think getting long oil and short the airlines are the best play going into the fall.
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It see it too.

Anyhow best to wait until just after theelection, to go long.

It's a long term play, maybe two years.
No problem if you are not leveraged, just buy and hold an ETF like USO.
 
Quote from The Kin:

I completly agree. Oil to $150 and beyond by the end of the first week of September.
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That's a little too soon. After the election maybe.
 
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