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Old 07-18-2008, 04:56 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,901,138 times
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Oil fell the fastest EVER recorded in a once week period! EVER! I knew it would happen and it finally is!!

Oil falls again: Is the bubble bursting? - Yahoo! News (broken link)
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Old 07-18-2008, 04:58 PM
 
3,460 posts, read 5,072,134 times
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10% correction=RECORD Free Fall?
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Old 07-18-2008, 05:01 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,901,138 times
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Quote:
Originally Posted by sterlinggirl View Post
10% correction=RECORD Free Fall?
You think not. Wait until next Friday when oil closes in the $95 range!
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Old 07-18-2008, 05:05 PM
 
523 posts, read 1,309,993 times
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Quote:
Originally Posted by KevK View Post
Oil fell the fastest EVER recorded in a once week period! EVER! I knew it would happen and it finally is!!

Oil falls again: Is the bubble bursting? - Yahoo! News (broken link)
No bubble, the price drop is temporary. Oil will end the year above $150 a barrel.

The real free fall is the US Dollar. How can oil keep falling when the US Dollar is in a free fall?
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Old 07-18-2008, 05:07 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,901,138 times
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Quote:
Originally Posted by mojo_1979 View Post
No bubble, the price drop is temporary. Oil will end the year above $150 a barrel.

The real free fall is the US Dollar. How can oil keep falling when the US Dollar is in a free fall?
I predict that, on Christmas Day, oil will be in the $80 to $90 range.
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Old 07-18-2008, 05:08 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,403,590 times
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Quote:
Originally Posted by KevK View Post
You think not. Wait until next Friday when oil closes in the $95 range!
Now you are dreaming. I honestly think we could see it rise a bit early next week depending on how the meeting in Iran goes. I heard Condi talking pretty tough on Iran this afternoon. If everything remains as is, and no new fears escalate in the Middle East or Nigeria, we might see the 110s by next Friday.

Quote:
Originally Posted by mojo_1979 View Post
No bubble, the price drop is temporary. Oil will end the year above $150 a barrel.

The real free fall is the US Dollar. How can oil keep falling when the US Dollar is in a free fall?
We shouldn't go much over $150 unless there is a major hurricane in the gulf or a new war in the middle east. Much demand destruction is occurring, especially in the $140 range. If they could have busted $150, they would have with all the momentum they had. I could be wrong though.
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Old 07-18-2008, 05:10 PM
 
Location: Arlington, VA —> Likely Durham, NC in October
24,569 posts, read 34,777,449 times
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Quote:
Originally Posted by KevK View Post
Oil fell the fastest EVER recorded in a once week period! EVER! I knew it would happen and it finally is!!

Oil falls again: Is the bubble bursting? - Yahoo! News (broken link)
Dont hold your breath. We went down this road a few days ago.
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Old 07-18-2008, 05:13 PM
 
655 posts, read 758,004 times
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Write it down, "oil will never, I repeat never, dip below $100 again!" I agree it is in decline, but it is temporary and a healthy correction.
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Old 07-18-2008, 05:15 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,403,590 times
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Quote:
Originally Posted by travelmate38 View Post
Write it down, "oil will never, I repeat never, dip below $100 again!" I agree it is in decline, but it is temporary and a healthy correction.
Don't be so sure. Theoretically, if we were to drill in ANWR and offshore, and at the same time there was to be a recession in China, we could end up in the $20 range fast. If just one of those happens, we would end up in the $40-$60 range fast.
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Old 07-18-2008, 05:18 PM
 
523 posts, read 1,309,993 times
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Quote:
Originally Posted by KevK View Post
I predict that, on Christmas Day, oil will be in the $80 to $90 range.
So what is your prediction for the US Dollar on Christmas Day? The value of the Dollar and the price of oil go hand in hand. It is foolish to predict the price of oil without considering the value of the Dollar.
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