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O.o . . . . . oil below 70/barrel

Discussion in 'Members' Lounge' started by Cashizslick, Dec 12, 2009.

  1. Cashizslick

    Cashizslick !i!i!i!i!i!i!i!i!i!i!i!

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    Just saw this on reuters' commodities section.

    [​IMG]

    Last year it dipped to 38/barrel on the reuters index for light crude. I didnt have the balls to buy then . . . however this year i am seriously considering it.
     

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  2. Briansol

    Briansol Admins Admin VIP

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    it's a long term investment thats for sure. it really hasn't moved out of 70 +/- 5 in nearly a year.
     
  3. Cashizslick

    Cashizslick !i!i!i!i!i!i!i!i!i!i!i!

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    i know. i wonder how low it will go . . . last February it was around 43/barrel at one point . . .
     
  4. Briansol

    Briansol Admins Admin VIP

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    i doubt it will drop much more than where it is.

    the dollar got stronger friday, thats why gold/oil/othershitthatsnotbasedonUSdollars all dropped in our eyes.

    pair it up in euros, and its dead flat.
     
  5. jeffie7

    jeffie7 Wrong Whole! VIP

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    bottom line oil was WAY over priced like every other item in the market, it went POP and fell fast, it hit a bottom then worked its way back up to a normal market price and now its sitting at that price.

    65-75 is a pretty healthy price for oil to make everyone happy.

    It will go up and down but you wont see any big movements again until the next market run.
     
  6. totalburnout

    totalburnout Well-Known Member VIP

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    I put oil back up to $120 within 1.5years.

    buy buy buy.
     
  7. Cashizslick

    Cashizslick !i!i!i!i!i!i!i!i!i!i!i!

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    ^ As i recap over my past year of oil speculation, i cannot help but cry when i see the current prices . . . . i should have manned up when it was 43/barrel.
     
  8. jeffie7

    jeffie7 Wrong Whole! VIP

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    Doubt it will hit 120 within 1.5 years, I doubt it will even break 100. If the market gets back on track with the rest of the country it might pop for a little bit while people like the ones in this thread jump on board, it will rise, but in the end it will come back down not long after.

    Wahhhhhhh 43 bucks up to 70, I'd rather not trade oil because it pisses me off the idea of making money off something the world needs and if I win it means the world is getting screwed.

    How about one of the other MANY MANY stocks that went 100%+ this year? Oil is one of the few and in fact one of the lower earners. It WAS in a bubble so it fell hard, a lot of other stocks were not in a bubble and are returning to normal prices.

    If you want to cry about something look back at me and B pushing Sirius, I'm up about 400% this year.
     
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