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Old 08-22-2008, 10:09 PM
 
Location: Los Angeles Area
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What is with the oil markets? Up down, up down etc. Its almost amusing at this point.
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Old 08-22-2008, 10:22 PM
 
Location: Oregon Coast
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I'm just looking forward to the down part of it. It finally got under $4.00 per gallon at the pump for gas. Yippie!
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Old 08-23-2008, 10:03 AM
 
Location: Texas
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Geo political conflict. I'm long oil and have been buying into weakness as there are genuine supply constraints coming along. Plus it's a good hedge against the falling dollar. I also believe demand out of China will come roaring back once the olympics are over and they are allowed to burn the stuff again.
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Old 08-23-2008, 10:07 AM
 
Location: Fort Myers Fl
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Not really. It is starting to give me a headache.
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Old 08-23-2008, 11:04 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,529,651 times
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Quote:
Originally Posted by Humanoid View Post
What is with the oil markets? Up down, up down etc. Its almost amusing at this point.
Oil is in free fall right now. I think it will be around $85 by Christmas.
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Old 08-23-2008, 08:10 PM
 
Location: Boise, ID
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I don't find the market amusing, but I do find the predictions here on C-D to be pretty funny at times!
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Old 08-25-2008, 11:24 AM
 
Location: Chino, CA
1,458 posts, read 3,066,144 times
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Quote:
Originally Posted by TexianPatriot View Post
Geo political conflict. I'm long oil and have been buying into weakness as there are genuine supply constraints coming along. Plus it's a good hedge against the falling dollar. I also believe demand out of China will come roaring back once the olympics are over and they are allowed to burn the stuff again.
Or quite the opposite... maybe the major ramp up in building/Oil use in the last 7 years was because of the Olympics. Now that it's over, those facilities AND equipment (what are they going to do with a 200 yard wide LCD screen?), in prime locations, and take up tons of land are going to sit fairly idle. Either way, stadiums, parks, fields, aquatic centers, etc. aren't usually considered production sources but sources of leisure.

Furthermore, where are those firework factory workers, thousands of dancers, hospitality people, etc. going to do now? Go back and labor in factories? Global demand has slowed down for consumer products.

Generally speaking, the Olympics are great for publicity, but poor on the economy:
A post-Olympic hurdle for Greece: the whopping bill | csmonitor.com

Another about China in Reuter's India:
http://in.reuters.com/article/busine...BrandChannel=0

"We're going down from stupidly fast last year to really fast this year and just plain ordinary fast next year, which would be in the 8-9 percent range," said Kroeber.

So, what would a global slow down look like on OIL? We'll see.

-chuck22b

Last edited by chuck22b; 08-25-2008 at 11:35 AM..
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Old 08-25-2008, 11:48 AM
 
Location: Spring Hope, NC
1,553 posts, read 2,130,970 times
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It reminds me of the stock market; up, down,down,up, down. Think of the people that bought the stock market on a high note and have to draw their annual 4% in retirement on a low note
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Old 08-25-2008, 11:49 AM
 
Location: Chino, CA
1,458 posts, read 3,066,144 times
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Quote:
Originally Posted by Humanoid View Post
What is with the oil markets? Up down, up down etc. Its almost amusing at this point.
Like I said somewhere else, driven by speculation. The little guy has the most to loose as the big boys will eventually move to something else. Small movements don't support long term holdings of commodities.

You'd get better returns holding stocks on a company that has high dividend yields or a CD that are starting to get above 4% yields.

Of course the Oil guys are going to say China is going to all of a sudden consume a ton of Oil... but why exactly would they?

Yea, I'm getting a kick out of the markets (since I'm not in it ). The Oil guys must be getting daily heart attacks.

-chuck22b
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Old 08-25-2008, 02:25 PM
 
Location: Houston, TX
17,031 posts, read 28,328,526 times
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Lots of oil folk watching the stock prices in their 401ks...heard of two who decided to retire in the last month...
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