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Crude Oil - *Oct 13th to Nov 7th*

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  • Crude Oil - *Oct 13th to Nov 7th*

    Crude will soon most probably make a significant low in price. The caveat (there's always one!) is a de-facto break-up of OPEC if they make no attempt to cut quotas and decrease production into a weakening Asian and European economy.

    Since I bought 1,000 shares of Conoco today the caveat will probably prevail, so wait awhile and you just might pay less than the $64 I did.
    Attached Files

  • #2
    Re: Crude Oil - *Oct 13th to Nov 7th*

    Thanks Raz!

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    • #3
      Re: Crude Oil - *Oct 13th to Nov 7th*

      And imminent QE4 can't do anything but help!

      Fed's Bullard says QE3 could last longer than October

      http://www.marketwatch.com/story/fed...ber-2014-10-16

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      • #4
        Re: Crude Oil - *Oct 13th to Nov 7th*

        The oil shares are rebounding between 2% and 5% but crude oil is only bouncing 1% or less.
        Here's an update on Crude, Gold and the S & P.

        On August 14th I re-hedged my metals at $1317.30 basis December '14 Comex, but covered those shorts at 1225.80.
        I'm not at all impressed with the recovery in gold and if it drops back below $1200 anytime soon it will probably break down.
        Should that occur December Gold could easily drop to 1112 - and possibly down to $1040.
        Attached Files

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        • #5
          Re: Crude Oil - *Oct 13th to Nov 7th*

          Originally posted by Raz View Post
          The oil shares are rebounding between 2% and 5% but crude oil is only bouncing 1% or less.
          Here's an update on Crude, Gold and the S & P.

          On August 14th I re-hedged my metals at $1317.30 basis December '14 Comex, but covered those shorts at 1225.80.
          I'm not at all impressed with the recovery in gold and if it drops back below $1200 anytime soon it will probably break down.
          Should that occur December Gold could easily drop to 1112 - and possibly down to $1040.
          Thanks Raz.
          I seem to recall some months ago bart and Finster discussing the real possibility of an ultimate gold bottom near or under $1000, maybe as low as $900.

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          • #6
            Re: Crude Oil - *Oct 13th to Nov 7th*

            good move on that one my friend, i was waiting for vde to crack 100, but it never did. im still on the sidelines

            Comment


            • #7
              Re: Crude Oil - *Oct 13th to Nov 7th*

              Originally posted by Raz View Post
              Crude will soon most probably make a significant low in price. The caveat (there's always one!) is a de-facto break-up of OPEC if they make no attempt to cut quotas and decrease production into a weakening Asian and European economy.

              Since I bought 1,000 shares of Conoco today the caveat will probably prevail, so wait awhile and you just might pay less than the $64 I did.
              They are doing it to hit the Russian rouble, some experts say.
              Right now, the dollar seems to be a good asset.

              But I think once oil drops very low, IT will be a great buy. So, keep your eyes on oil stocks, but up and hold for years. In 5-10 years time, oil will become very expensive!

              This is a temporary drop.

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