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

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  • GoldMiner
    replied
    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.

    Leave a comment:


  • charliebrown
    replied
    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

    Leave a comment:


  • thriftyandboringinohio
    replied
    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.

    Leave a comment:


  • Raz
    replied
    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

    Leave a comment:


  • vinoveri
    replied
    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

    Leave a comment:


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

    Thanks Raz!

    Leave a comment:


  • Raz
    started a topic Crude Oil - *Oct 13th to Nov 7th*

    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
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