Oil is going parabolic....

[PaceAdvantage]

The price for a barrel of oil is up almost $8 since Friday's close as I type...the shorts are running for their lives at the moment...since trading opened at 6:00pm this evening, it is up almost another $3 in about 10 minutes....SICK...

[bigmack]

the shorts are running for their lives at the moment...
They ain't the only ones running for their lives. Buckwheat here is trying to dig a hole to crawl in. Ala. S. Hussein.

http://blog.sarcasmsociety.com/wp-content/uploads/2009/11/Muammar-Gaddafi.jpg

Tough time to be short with the unrest over yonder.

[PaceAdvantage]

And I realize it's not really going parabolic...I was exaggerating...

But it's a nice breakout above the highs it's been knocking around on since early December..

[Robert Goren]

If a temporary rise in the price of oil is the price we have to pay to get rid of that Libyan terrorist, so be it. Maybe Scotland will take back the Lockerbie bomber.

[prospector]

If a temporary rise in the price of oil is the price we have to pay to get rid of that Libyan terrorist, so be it. Maybe Scotland will take back the Lockerbie bomber.
obama is not going anywhere..
we need to dig off our coasts and produce our own oil..plenty of shale oil in the hills..

[bigmack]

But it's a nice breakout above the highs it's been knocking around on since early December..
The father of a Brazilian woman I dated is fairly gifted at ridin' waves of indexes & commodities. I gave him some lettuce to roll around and he spits out nice returns.

I know you & D. Schmidt run in that game. I can see where it would be of interest but looking at graphs all day ain't my cup o' tea.

[Marshall Bennett]

If a temporary rise in the price of oil is the price we have to pay to get rid of that Libyan terrorist, so be it. Maybe Scotland will take back the Lockerbie bomber.
It's more than just Libya. It's spreading. Nearly a dozen middle east countries are involved now in this uprising. Things could get really ugly, and not just surrounding the price of oil. Governments are beginning to fall and the question is, into what hands? Stay tuned folks, this is serious shit.

[PaceAdvantage]

Oh well...I guess the teachings here in off-topic by the left-leaners that oil only goes up because of greedy speculators and Republican Presidents with ties to "Big Oil" (or so it seemed) were a bit in err.

[lamboguy]

the interesting play here is that brent oil is trading alot higher than light sweet crude. and everyone always tries to buy the light sweet crude. the reason is the instability of the middle east. its been going in opposite directions until today. i would short the brent and go long light sweet.

if you want to see a market that has juice behind it, look at the silver market. it was $17 in september, now $34. i suspect that the us government and chineese are the ones buying up the silver now. silver can go to $200 and gold to $2000 and it doesn't look that bad. the us government can say they are successful with their programs and relate to the gold only going up to $2000, but at some point the us government is going to have to swap out of silver and get their hands on all the gold that exists to bail out their problems. this is my speculation on the situation trying to support the technical aspects of the whole deal.

[Valuist]

Oil has got to be the only bubble that has burst badly, but recovered strongly within 2 years. $147 a barrel to $34 in 5 months. I don't think we will ever see sub $50 oil EVER again. The supplies just aren't there.

Lamboguy- I get a newsletter that claims there's only about 9-10 years supply in the earth of silver. Silver will outperform both gold and oil.

[lamboguy]

Oil has got to be the only bubble that has burst badly, but recovered strongly within 2 years. $147 a barrel to $34 in 5 months. I don't think we will ever see sub $50 oil EVER again. The supplies just aren't there.

Lamboguy- I get a newsletter that claims there's only about 9-10 years supply in the earth of silver. Silver will outperform both gold and oil.there is plenty of natural gas out there. natural gas is going to be the bull market of the decade. it looks the same way to me as gold did 10 years ago. there is lots of money to make with natural gas.

the thing about metals today is that when the high comes in, it will stay there and not fall apart like in 1980.

ron reagan was pretty good, he had the largest tax increase in the history of the united states and everyone thinks he lowered them, then clinton came in and stregthened the dollar, bush got in and trashed it. obama sending it to hell.

[lamboguy]

Oil has got to be the only bubble that has burst badly, but recovered strongly within 2 years. $147 a barrel to $34 in 5 months. I don't think we will ever see sub $50 oil EVER again. The supplies just aren't there.

Lamboguy- I get a newsletter that claims there's only about 9-10 years supply in the earth of silver. Silver will outperform both gold and oil.
if that newsletter is correct, the united states is pulling off the greatest move of all time buying up silver. the way the silver market is moving you know it has to be a central bank or banks buying it up. its not the hunt brother's trying to corner the market!!!!!

[Valuist]

if that newsletter is correct, the united states is pulling off the greatest move of all time buying up silver. the way the silver market is moving you know it has to be a central bank or banks buying it up. its not the hunt brother's trying to corner the market!!!!!

China is buying it up. They are hoarding all the commodites and rare earth metals.

[FantasticDan]

Despite the irrational "fear premium" driving the current spike, there is plenty of oil to compensate for any potential disruptions:

http://www.cnbc.com/id/41714336

[sonnyp]

Despite the irrational "fear premium" driving the current spike, there is plenty of oil to compensate for any potential disruptions:

http://www.cnbc.com/id/41714336


i have no reason to doubt what you say. i'm sure you know more than i, but i will be willing to bet that the price at the pump will take a hellovalot longer to go down than it did to go up.

they're talking right now that the libyian army has been ordered to attack civilians and that the cost of oil is going to put this market into an undeniable, fullfledged recession.

[boxcar]

Despite the irrational "fear premium" driving the current spike, there is plenty of oil to compensate for any potential disruptions:

http://www.cnbc.com/id/41714336

Myopia must be great. Tell me: Is it like being in the dark, quiet, moist safety of the womb?

Yes, there might be plenty of reserves right now, but how long will it be before the Saudis fall? They would be the Grand Prize of the Mideast "revolution", hands down.

Boxcar

[FantasticDan]

i have no reason to doubt what you say. i'm sure you know more than i, but i will be willing to bet that the price at the pump will take a hellovalot longer to go down than it did to go up.
Of course it will. That's called the fireworks and feathers phenomenon. Oil goes up, gas prices shoot up fast as fireworks. Oil goes down, gas prices drop ever so slowly like a feather. Crude oil dropped almost $10 over the two or three weeks before all the Libya stuff started, and gas prices where I live didn't drop a penny.

[ElKabong]

i have no reason to doubt what you say. i'm sure you know more than i, but i will be willing to bet that the price at the pump will take a hellovalot longer to go down than it did to go up.

they're talking right now that the libyian army has been ordered to attack civilians and that the cost of oil is going to put this market into an undeniable, fullfledged recession.

Bush's fault. No, wait....

[plainolebill]

If oil prices rise too much too fast the world economy will put on the brakes then oil will fall significantly. The oil companies know this and sure aren't looking for that kind of volitility.

Bahrain is another country in danger, the ruling class is Sunni but the largest portion of the people are dirt poor Shia and evidently fedup with the situation. The navy has a big base there so we may intervene in some way.

These governments have brought all this shit down on themselves; they've been afraid to educate their people because educated people can think for themselves - now they've got a lot of hungry ignorant people with no jobs and no prospects.

[BlueShoe]

Supposedly the Libyan army has been ordered to destroy their oilfields. Oil futures are up again this am. Oil breaks the $100 a barrel barrier by the end of the week? Gas is $5 a gallon by Memorial Day? Soaring fuel costs will throttle any hopes of a recovery, almost everything we buy will rise in price, and the Democrats will blame the Republicans for everything again.:rolleyes:

[Tom]

The new Leader is on deck.......next day or two.

[BlueShoe]

We only get an actor that turns out to be a great leader once or twice a century, and we had ours in the 80's. This guy is a typical far left Hollywood loon, so he sure as hell is not the next one. But then again, in Libya, or a lot of places just like it, he just might fit right in.