$120+ Oil…
Posted by Blain Reinkensmeyer
May 8, 2008 at 8:07 pm
I only have one question for you readers…
Are you a buyer up here?
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I expect oil to go far higher than it is today. In my mind there’s really no doubt. However, I haven’t yet put my money on the line, and I’m not sure that I will. Strange situation, I guess.
Although I believe oil is going higher, like llama I don’t have the nerve to pull the trigger and become an actual “buyer”.
Everyone flipped out at three dollars but demand didn’t change and now we near $4 and still demand hasn’t changed.
Just to add that especially with summer basically now here driving is only to continue to increase. The oil bull will continue to roar on
.
We’ll see how it all foils out. I have been using HAL for a type of play, but the higher it all goes, the more scary it gets.
Am I a buyer here? No. I wouldn’t be surprised to see a pullback about now.
Do I think oil will be going higher still in the longer term? Yes. The fundamentals absolutely suck for cheap oil.
this is a no-brainer. Put ALL your money in oil, 50% in 2 months. Trust the good guys at Goldman and our OPEC friends! Oil going to 300 in a year.