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Sweet, sweet Oil

  • #61
  • May 8, 2008 5:07am May 8, 2008 5:07am
Quoting Spoony
Oil is scary, it rose 1300 pips in only 5 days. Even with good data, it is still rising. I wonder when it will drop....
whether us$ is up or down,oil just going up.But i think it's close to a correction around 125ish
  • #62
  • May 9, 2008 12:09pm May 9, 2008 12:09pm
is it just me or does oil never respond to technicals
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63
  • May 9, 2008 12:17pm May 9, 2008 12:17pm
Quoting emda
why should lives of millions depend on the greedy of the speculators?
this human behaviour really worries me.. but...
is it true that the price of oil really is driven by the speculation ? I don't think so.... I think there is something more... even worse...
Damn right it's speculation. In 2000, there waas $9 billion in oil futures and options. Today there is over $250 billion. If that ain't speculation, I don't know what is.

I just saw reputable news report that there is enough oil in the outer shelf in coastal waters of the US to supply us for more than 150 years. And that doesn't count ANWAR. The problem is the greens adn congress has put 85% of it off limits.
  • #64
  • May 9, 2008 12:24pm May 9, 2008 12:24pm
ceznarc,
what is the price of liter or gallon of gas there in Brazil? I visit the Dom Republic quite often and equivalent dollar per galoon is close to $5
  • #65
  • May 9, 2008 12:36pm May 9, 2008 12:36pm
Quoting salah k.
is it just me or does oil never respond to technicals

If you mean indicators, then I'd say nothing really does, if you mean techs as in chart techs, then I'd say it's as clear as day most of the time.
Trust price. Know yourself.
  • #66
  • May 9, 2008 12:39pm May 9, 2008 12:39pm
Quoting salah k.
is it just me or does oil never respond to technicals
Not if your going short in a bull market, it doesn't.
I dream, therefore I become.
  • #67
  • May 9, 2008 1:08pm May 9, 2008 1:08pm
Quoting mike w
Not if your going short in a bull market, it doesn't.
ROFL
  • #68
  • May 9, 2008 3:31pm May 9, 2008 3:31pm
Quoting SeekingLight
If you mean indicators, then I'd say nothing really does, if you mean techs as in chart techs, then I'd say it's as clear as day most of the time.
the charts say north
but the fact is everytime we come to buy we get afraid of correction
so WTF
is it gonna keep flying?????????????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69
  • May 9, 2008 3:33pm May 9, 2008 3:33pm
Quoting mike w
Not if your going short in a bull market, it doesn't.
not a chance mike
i know my limits and daytrading oil is out of my league cause it needs 24/7 news watch and not a soul in the world can convince me otherwise.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #70
  • May 9, 2008 4:35pm May 9, 2008 4:35pm
I've just read that USA consumes each day more oil than the next 5 major oil consumers in the world which are "India", "Rusia", "Germany", Japan" and "China".

How can USA economy recover with this oil price action? The crisis has just started...
  • #71
  • May 9, 2008 5:17pm May 9, 2008 5:17pm
Quoting bhale
ceznarc,
what is the price of liter or gallon of gas there in Brazil? I visit the Dom Republic quite often and equivalent dollar per galoon is close to $5
May I answer this, sure I'm not ceznarc, but I feed my little french here in Brazil too (206)

1 liter of gas here is around 2.3 - 2.5 Brazilian Real, translated to real money is around USD 1.42
Many share my views with me. But I don't share them with them...
  • #72
  • May 9, 2008 6:03pm May 9, 2008 6:03pm
very interesting video about oil.

Inserted Video


  • #73
  • May 9, 2008 6:07pm May 9, 2008 6:07pm
Quoting emda
I've just read that USA consumes each day more oil than the next 5 major oil consumers in the world which are "India", "Rusia", "Germany", Japan" and "China".

How can USA economy recover with this oil price action? The crisis has just started...
if wat ur saying is the case
then USA has to act soon or else NEW WORLD ORDER
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #74
  • May 9, 2008 7:06pm May 9, 2008 7:06pm
Unsubscribing from this thread now.
Trust price. Know yourself.
  • #75
  • May 9, 2008 7:23pm May 9, 2008 7:23pm
Anyone else noticed how the spread is tightening as the price rises.

Quite odd it hasn't done this,to this extent,since it went inverted last July/Aug
The greatest enemy of a good plan is the dream of a perfect plan.
  • #76
  • May 9, 2008 7:53pm May 9, 2008 7:53pm
Quoting bhale
ceznarc,
what is the price of liter or gallon of gas there in Brazil? I visit the Dom Republic quite often and equivalent dollar per galoon is close to $5
R$ 2.20 to R$ 2.60 a liter depending on the region (yes, gotta pay freight - DIESEL - to transport gas LOLLLLLLLLL)

That's US$ 1.30 to US$ 1.53 a liter.

Note that as oil went from $60 to $120, USDBRL went down from 2.8000 to 1.6900

We also don't have the house heating pressure overhere. We call +12ºC "freezing our asses off"
  • #77
  • May 14, 2008 6:35pm May 14, 2008 6:35pm
The spread has now virtually disappeared.

God the suspense is killing me
The greatest enemy of a good plan is the dream of a perfect plan.
  • #78
  • May 15, 2008 7:33pm May 15, 2008 7:33pm
I didn't think this thread was gonna take off.


Seems odd the dollar recovering some across the board, but oil just keeps climbing. The media has placed a target gas price at 4$ and thats where there going to trade it too. Speculation is driving the price. Oil is currently way over priced. Its only estimated to be actually worth 75$ per barrel. There is going to be a real quick drop at some point. But the talking heads on the TV keep speculating the relief won't come until after fall. So wall street will keep trading it up as long as they can. Oil company's welcome this as they keep banking profits. Bush administration is heavily invested in oil, so there loving it the last few months there in control. And the American population will just continue to take in in the woohoo.
  • #79
  • May 16, 2008 1:38pm May 16, 2008 1:38pm
will go down if saudi arab will increas production
  • #80
  • May 16, 2008 1:55pm May 16, 2008 1:55pm
Sure, but why sell it now at a low price when the demand will only go up and up for atleast the next 15 years...
Happy Pip-hunt... KISSes
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