$66 oil

[*T*]

Re: $66 oil

Oil traded down over a two period this week to $65 and is back over $66 today.

Where do you stand?

Will hit $20 before $200.

[Jim Nickerson]

Re: $66 oil

Hey babbitd,

First, I appreciate all the news items you put up, with as I recall intelligble titling that directs the reader to either click or ignore, based on one's interests. Contrast that to all the bullshit titling we get that tell nothing serious about what one will find if one is perhaps bored enough to click on the link.

Here is a technical look from Carl Swenson posted today in which he guesses at a USO range between 20 and 40.

http://www.decisionpoint.com/ChartSp...90925_uso.html

[Slimprofits]

Re: $66 oil

my viewpoint is that it's a window of opportunity.

And very late last night, I just knew that Goldman would step in and try slam it shut. a few hours later:

http://online.wsj.com/article/SB125388707268741009.html

Goldman Raises Oil Demand Forecast

Analysts at Goldman Sachs on Friday raised their forecasts for global oil demand for the fourth quarter of 2009 and for 2010 by 1.2 million barrels a day and 1.6 million barrels a day, respectively.

"The permanent damage from the credit crisis is much less than we had previously thought, which means that we are beginning the recovery from a higher base," wrote Jeffrey Currie and other Goldman analysts in a research note.

At the same time, Goldman maintained its price forecasts, saying that higher anticipated demand has been met by stronger supply, particularly out of Russia and the rest of the former Soviet Union.

As a result, Goldman raised its global supply forecasts by an amount similar to its global demand forecast. Goldman kept its end-of-year target for benchmark crude prices at $85 a barrel, along with an average 2010 price forecast of $90 a barrel and its end-of-2010 target of $95 a barrel.

[Slimprofits]

Oil traded down over a two period this week to $65 and is back over $66 today.

Where do you stand?