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United States Oil Message Board

  • GREENFLD GREENFLD Aug 24, 2010 11:04 AM Flag

    I'm all in equities and oil on the selloff folks...

    it's gonna be a big have to buy down here.. I didn't think they'd be able to shake everyone this low...but they did and you gotta take advantage...should be a +100 on DOW today and oil to $74.

    If we don't get the run up today, we'll get it tommorrow....the prices here are just freaking ridiculous.

    All we need is a little more cooperation in the buck getting it back below $83.

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    • certainly had plenty of opportunity to get long oil...there was absolutely no reason not to.

      I don't think you're too late to the party....we're only sitting in the low $80s here...a long way to go on the upside....don't miss the next run.

    • What low??
      we are just 29% below DOW all time high of 14k - which means that broad expectations are that there is going to be a nice recovery going forward.
      Wait till those expectations get derailed...

    • This is the low for the remainder of the year, particularly in equities.

      Great buying opportunity. Things are going to heat up a week from now.

    • at this point I'd have to agree as oil is getting shelled...I think the relative strength of the dollar given the news is not helping matters....

      71.30 and I'm stopped out...we'll let it run into the evening session where I'm sure the odds are pretty high that I'll lose the contracts...that's why you have stops.

      I still think we are at or very close to the inflection point....earnings are still looking quite good, we still have global growth and demand...Is the U.S. and Europe slowing further? (perhaps), but I think we've overshot big time to the downside here.

    • Greenfld.

      It is the shorts turn right now. Too much bad news. Last week and now this week. Yes you do have an argument that the markets knew about the bad housing report. The numbers though were WORSE than expected.

      Your only hope is that we get the ANALists figures for tomorrows inventory. If not, Sub 70. And from what I see in the selling the last hour? It will be a bearish report.

      The Wizard

    • I'd be scared holding shorts into tomorrow if we close anywhere in this area or higher.

    • I'm probably as bearish as greenie is bullish.

      I think the Dow falls below 10K soon and stays there for a in the low 9K.

      When Wall Street and Main Street intersects then stocks and commodities will have a realty check.

      I don't think we have a crash...just a slow grind lower.

      • 1 Reply to andthepoint
      • I have my largest positions of the year on in equities here.....usual 4 contracts in oil, but baring some major global catastrophe, I don't see us going much lower here....

        We're talking the major multi-nationals with tons of cash on the balance sheet, dividend yields paying out more than the 10 year, cheap money and buyouts dujour. If we don't close positive today, I'll really be shocked.

        Load'em up.

    • Green...

      Good luck. I do not see it. You are buying in on the end of the driving season AND just before the Cushing report. That does take a big set.

      The Wizard

      • 1 Reply to wizard_57
      • an oil rally is going to take some more dollar weakness, I agree. But you gotta admit, it is getting awfully cheap here...I may get stopped out again (so be it), but it's worth the turn because it will be a nice bounce back.

        I don't know who would sell equities here...just don't get it. Kudos if you rode this last 700 points down on the dow....but I really don't see us getting much lower here. If anyone thought the housing number would be as good as projected, you'd have to be an idiot..everyone knew it was going to be bad.....the selloff already occurred last week and yesterday.

11.82+0.16(+1.37%)4:00 PMEDT