Time to Short Oil

[gharghur2]

Quote from Quiet1:

the perceived certainty that crude will go higher now has about the same intensity/breadth of belief as it was with the dollar weakening when it was when it was 1.30+ against the euro...


Q1

It's all about perception. Currencies float against each other. Crude is simply a matter of supply and demand. And, China's emergence has tilted the world's balance to the demand side.

 

[libertad]

Here´s a simpler view....

Oil is just another $75 stock...that could be overbought in the short run....

The stock could go to either $80 or $70...in the near term....

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Yeah...using leverage in futures .....can be useful or lethal....
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The logic of never seeing the stock below $75 seems unlikely....

If one was to use no leverage....not so exciting after all.....

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Entertainment is entertainment...sometimes good...sometimes bad....

 

[GlobalFinancier]

In the long term, oil will prolly go to the single digits, with the advent of new technology.
But of course, in the long term, we're all dead, so..
Anyways, you short oil with real money? Yeah, I've an oil stock with real money down 6% today, still unworried.

 

[Kleiner]

st. lt crude down 2.42%.

 

[Kleiner]

Oil slightly down, stocks slightly down

I believe the oil prices are largely based on geopolitical concerns. Venezuela is increasing royalties and taxes wanting to have a piece of the action.

 

[gharghur2]

It looks technical to me.
Nice run up to new highs, some pullback here, and then a run at $80 probably.

 

[gharghur2]

Crude: Did make an expected pullback this week, but should be turning up shortly to new highs.

 

[Lights]

obviously there is event driven risk that could spike, but assuming all things relatively unchanged, oil could retest sub-70. the run up on speculation already happened. currently, the system cannot handle $3.00 gasoline and $70 crude is subject to public and media outcry. alot of bulls here...

Quote from gharghur2:

Crude: Did make an expected pullback this week, but should be turning up shortly to new highs.

 

[MrsSavant]

Hubris


Overbearing pride or presumption; arrogance

 

[rosy]

Quote from libertad:

http://business.timesonline.co.uk/article/0,,8209-2147565,00.html

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Yeah....the public hype is too thick here...

Katrina time ......

you are the public. while your at it short gold and go long bonds and the dollar