I see oil reaching 100 USD?!

And your reason why? Or is this just a guess.

yes im still alive and watching these nutso markets out of the corner of my eye. with all the credit craze this unbelievable fall in oil has gone relatively unnoticed. i was expecting a fall in stocks and the credit size sure was seen from a mile away, but i must say this oil and commodities plunge is truly mind boggling! i keeping hearing that the fall is due poor forecasts for the worldwide consumer, but come on, there must be something more to it than that! could it be that oil was inflated by as much as 100% for the past year?? or did opec finally get scared by all the rhetoric about developing alternatives?

btw, i miss reading the forum everyday like i used to.... catching up a bit today makes me remember how much fun it is to hang around with all you bums my "new" lifestyle doesnt allow me to follow the markets closely or even surf the internet like i used to, and while i dont miss the stress of trading, i certainly miss FF and the market action!

5 minutes is a long time in the markets these days. Nothing like a $4 rally/short covering or whatever to end the day/week/month:

Hello friend that was not a guess. I have the reason behind it. As there is no attack on Saudi countries have oil wells and as you must me knowing that US is have the largest consumption of oil and at present US is not concentrating on it.

Not a guess when you say this will happen in next 2-3 months. What happened to the prediction many made for $200 oil?

In this market noboby knows what will happen in the next 2-3 hours.

But what about the fact the US and much of the EUZone is in or going into a recession, maybe even a severe recession?

Then all kinds of people will be predicting $20 oil.

I trade the chart, not a crystal ball.

I remember back in September the whole positivism about the oil, is reaching $100, when it had the $16 historic jump. Now we’ve heard analysts saying it might even go as low as $16, but then I see someone here saying it will go up to $200. SunTrader is the only one making sense here… he does not forecast. I still wonder what's really gonna happen.

I see oil reaching 100 divided by 2, at least.

Big spike in oil today: +$2

Oil rose near $56 a barrel after news that private sector job losses slowed in April and government data showing an unexpected drawdown in gasoline stocks last week boosted hopes for a turnaround in the economy.
-CNBC

Today's move makes it appear that oil has already priced this recession and now eyes are on when to start pushing it up...

If bottom is put, oil and oil companies might be the place to stay for the year.

Petrobrás broke immediate resistance at R$ 30.00 two days ago, making about 17% in the last few days. Big international players are jumping in the bandwagon, as reported....

Also, Brazilian economy and stock market are seeing as the first in the world to start the recover, that's another reason.

http://i2.photobucket.com/albums/y28/cesarnc/petro1.jpg

I just hope this is not a bearish flag!!!

http://i2.photobucket.com/albums/y28/cesarnc/petro2.jpg

My plan is to dump the shares via oil and Bovespa index, which will find resistance at around 55,000 points (today 52k)

Oil $75 something to be looking at?!?



Thoughts?

i think before up to 60+ will down to 52

Despite of the swing in the process, I'm trying to figure out what is oil price for a picking-up economy.

$50 was the recession price, as it seems, for just a few good news pushed oil up fast.

BTW, $58 right now.

Pretty insane

Pierced the $59 today...

Higher demand expectations (not the demand per se) move oil.

Time will be gone to long oil assets when the economy reaches cruising speed again.

These guys seem to think Obama won't allow oil to reach above 60.

http://www.cnbc.com/id/30642638

What else is new?

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