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I see oil reaching 100 USD?!

  • #61
  • Oct 31, 2007 9:48am Oct 31, 2007 9:48am
Quoting merlin
ditto.

you aint trading until you have tradestation!

(LOL, ok i know i just pissed off a lot of MT guys, im just talking crap though)




  • #62
  • Nov 5, 2007 3:45pm Nov 5, 2007 3:45pm
ok i know i'm not allowed posting here, but is this the week that oil breaks thru $100/brl??

i see that gold has smashed thru $800/oz in an equally strong uptrend.

{waiting for phil to kick my ass off this thread...:}
Attached Image (click to enlarge)
Click to Enlarge Name: oil.gif Size: 12 KB
  • #63
  • Nov 5, 2007 4:06pm Nov 5, 2007 4:06pm
Quoting Isotonic
ok i know i'm not allowed posting here, but is this the week that oil breaks thru $100/brl??

i see that gold has smashed thru $800/oz in an equally strong uptrend.

{waiting for phil to kick my ass off this thread...:}
It's about time it hit $800. I remember buying my class ring in 1982 when it was over $800, maybe i can sell it for breakeven some day soon (seemed like a good idea at the time).

I'm not the forum police or the 1KT bully. I've always stated that I thought you should post here. My only beef was you saying that you weren't 1KT but continuing to exercise the privileges. Given the recent level of participation I hope you contribute often even if that means you have all those red lines on your chart.
  • #64
  • Edited 5:48pm Nov 5, 2007 5:31pm | Edited 5:48pm
Quoting philmcgrew
Given the recent level of participation I hope you contribute often even if that means you have all those red lines on your chart.


I was gonna say something too, but I knew you'd beat me to it. Nothing gets past phil alive. Nothing at all.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #65
  • Nov 5, 2007 6:10pm Nov 5, 2007 6:10pm
Gas will soon catch up and break new highs, I'm happy to be in Costa Rica w/ my 35 cent public transpertation...

But have closer look at the Top 10 Oil Reserves
http://www.infoplease.com/ipa/A0872964.html

1. Saudi Arabia - close guarded friends
2. Canada - close ally
3. Iran - sworn enemy that we may invade
4. Iraq - already invaded
5. Kuwait - already Invaded now ally
6. UAE - close ally
7. Venezuela - sworn enemy
8. Russia- new found ally and oil for food
9. Libya- sworn enemy threats of invasion
10. Nigeria - nobody wants to touch
  • #66
  • Nov 6, 2007 12:13pm Nov 6, 2007 12:13pm
cnn advertising 100 usd, that might be a sign to seek liqudity...its up 100%, a lot depends from tomorows news, if more then 3.3M+ then we go down,...if still -, then not ....stil long term it should be bulish till 4 march....me think
its just money
  • #67
  • Nov 6, 2007 12:25pm Nov 6, 2007 12:25pm
Quoting turbokaos
8. Russia- new found ally and oil for food
this is not quite true anymore, tensions have been growing with putin.

great commentary on the rest

$100 oil seems like a forgone conclusion at the moment, but i still think there will be a great shorting opportunity coming up in the next few months. the longs are worn and tired, and the smart positions may be exiting at 100. i think its the exiting that will setoff the big slide.
Relax and be happy.
  • #68
  • Nov 6, 2007 2:23pm Nov 6, 2007 2:23pm
thanks for the vote of confidence phil. but i'm operating double standards here so i'm not comfortable with posting here really.

the reason i am is that oil is drawing towards a magic number and it's fascinating to follow. if the crude oil inventories report disappoints tomorrow, it could be the, er, "fuel" that will push oil over 100. last week it moved 6$ points on bad news (see 4 bars back on chart). what if that happens again tomorrow?

if it happens this week, i'll crawl back out of the room.

here is something worth reading on this subject:

http://www.econbrowser.com/archives/...hen_would.html

Quoting philmcgrew
It's about time it hit $800. I remember buying my class ring in 1982 when it was over $800, maybe i can sell it for breakeven some day soon (seemed like a good idea at the time).

I'm not the forum police or the 1KT bully. I've always stated that I thought you should post here. My only beef was you saying that you weren't 1KT but continuing to exercise the privileges. Given the recent level of participation I hope you contribute often even if that means you have all those red lines on your chart.
  • #69
  • Nov 6, 2007 6:43pm Nov 6, 2007 6:43pm
StarDate 2020 Newswire.

War in Asia continues with Nuc threat escallating:-
Russia remains in revolt:-
Middle East lobbing WMD at each other after US decides to leave & fix it's own house:-
USD @ 0.6750 CAD:-
NSC {Northern Sheild Crude formerly known as WTC [CL]} hits new High @ $250.00 CAD:-

ALL tongue in cheek guys {not sure about the NSC bit tho}
  • #70
  • Nov 6, 2007 9:24pm Nov 6, 2007 9:24pm
Quoting merlin
this is not quite true anymore, tensions have been growing with putin.

great commentary on the rest

$100 oil seems like a forgone conclusion at the moment, but i still think there will be a great shorting opportunity coming up in the next few months. the longs are worn and tired, and the smart positions may be exiting at 100. i think its the exiting that will setoff the big slide.
Then likely the chances to get into a good postion are slim. Also does cheap USD attract smart money? I think theres little confidence in the dollar as long as Bush is at the helm.
  • #71
  • Nov 6, 2007 9:39pm Nov 6, 2007 9:39pm
Keyword: Affordability.

USA has declared that they can afford $100 a barrel oil price tag. USA opined that $100 oil is a small price in their big GDP. This goes the same to other developed nations.

And since these group consumes most of the world's oil, I see them "comfortable" with such a high oil price. Therefore, there is no "hindrance" for the price increase.
  • #72
  • Nov 6, 2007 10:02pm Nov 6, 2007 10:02pm
Quoting jest1081
Then likely the chances to get into a good postion are slim. Also does cheap USD attract smart money? I think theres little confidence in the dollar as long as Bush is at the helm.
Can you explain how the president caused a decline in the USD and how that will suddenly reverse a year from now when we elect a new one?
  • #73
  • Nov 6, 2007 11:35pm Nov 6, 2007 11:35pm
I think the way the oil market has gone parabolic means it is just a matter of how soon and at what price that the big correction will start.
  • #74
  • Nov 7, 2007 1:09am Nov 7, 2007 1:09am
Quoting philmcgrew
Can you explain how the president caused a decline in the USD and how that will suddenly reverse a year from now when we elect a new one?
Bush militarization policy has made the dollar suffer much. Its 'failed' Iraq campaigns so famously called "George Bush's Trillion-Dollar War" has taken its toll on the dollar.

The aspiring president will/should use this against him and promise a better economical framework for the US, its time they start focusing back on internal affairs, i think they have gathered enough influence that they are looking for to be a major player in the oil markets. Can anyone explain to me why US markets are still rising after all these, what fundamentals are driving the current market growth, if its good fundamentals, why are we still seeing an accelerated dollar devaluation, do you think we have a currency crisis?

I personally believe that any aspiring President who tackles this issue will receive a stronger base of supporters and their campaign will likely see dollar stir to a concentrated corrective mood.

I'm not saying that it will 'suddenly' reverse but it should provide the impetus for a stronger dollar trend.

Related news : [1 | 2]
  • #75
  • Nov 7, 2007 6:03am Nov 7, 2007 6:03am
((usd/cad can reach 0.88 intermediate term...and rebound should happen at 0.8788...that should mean oil at 118 or something like that...))
its just money
  • #76
  • Nov 7, 2007 6:53am Nov 7, 2007 6:53am
Quoting turbokaos
Gas will soon catch up and break new highs, I'm happy to be in Costa Rica w/ my 35 cent public transpertation...

But have closer look at the Top 10 Oil Reserves
http://www.infoplease.com/ipa/A0872964.html

1. Saudi Arabia - close guarded friends
2. Canada - close ally
3. Iran - sworn enemy that we may invade
4. Iraq - already invaded
5. Kuwait - already Invaded now ally
6. UAE - close ally
7. Venezuela - sworn enemy
8. Russia- new found ally and oil for food
9. Libya- sworn enemy threats of invasion
10. Nigeria - nobody wants to touch
let me add a visual thing...
Attached Image (click to enlarge)
Click to Enlarge Name: Worldwide_Oil_Reserves.gif Size: 52 KB
its just money
  • #77
  • Nov 7, 2007 7:20am Nov 7, 2007 7:20am
I hope it hits 100 and has a nice correction. I've locked in some profits from oil patch stocks..
Check Mate GAME OVER
  • #78
  • Nov 7, 2007 7:43am Nov 7, 2007 7:43am
Quoting jest1081
Bush militarization policy has made the dollar suffer much. Its 'failed' Iraq campaigns so famously called "George Bush's Trillion-Dollar War" has taken its toll on the dollar.

The aspiring president will/should use this against him and promise a better economical framework for the US, its time they start focusing back on internal affairs, i think they have gathered enough influence that they are looking for to be a major player in the oil markets. Can anyone explain to me why US markets are still rising after all these, what fundamentals are driving the current market growth, if its good fundamentals, why are we still seeing an accelerated dollar devaluation, do you think we have a currency crisis?

I personally believe that any aspiring President who tackles this issue will receive a stronger base of supporters and their campaign will likely see dollar stir to a concentrated corrective mood.

I'm not saying that it will 'suddenly' reverse but it should provide the impetus for a stronger dollar trend.
I'm not going to debate someone who doesn't understand why the US stock market is near all time highs, thinks the next president will end the war quickly, and doesn't see how a weak USD could benefit America.

I didn't see Singapore on the list of countries with oil resereves. It must be nice to sit back at a distance, point fingers and let someone else fight for uninterrupted supply of oil and middle east stability.
  • #79
  • Nov 7, 2007 8:09am Nov 7, 2007 8:09am
I understand that a weak USD could really rebalance their deficit. Increase exports and foreign investments into America. It could really help pull the economy together but there are people who do look at Mr Bush's approach investing in war as an unneccesary measure.

Just because i'm a Singaporean it has to mean that its easier for me to point fingers?...I DO HAVE ROOTS AND FAMILIES which comes from somewhere else. What makes you so sure middle east is stable now that US have intervened? U've got coffee friends there?

As a foreigner, i find that US products are definitely cheaper and more attractive. I'm sorry if i have offended you and your beliefs...oh yeah, okay i'm not interested in debates as well, you're after all the great phil.

best regards
jest
  • #80
  • Nov 8, 2007 2:13pm Nov 8, 2007 2:13pm
..."hot money"
http://www.forexfactory.com/news.php?do=news&id=55321
its just money
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