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Politics : Idea Of The Day

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From: Soumen Barua	5/17/2006 9:07:47 PM
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I wanted to make some comment on the energy market in my last post. However, due to some constraints I didn’t. Short term I expected a fall in price (Long term (more than a week?) I was Bullish though) and I wanted to see how much it falls. Suppose, I make a bullish comment and it does not fall further? Anyway, since that time (last Monday) it has fallen. However it is still barely below 70 and one push up and where does it go? I have been proponent of alternative energy source and until we find it oil price may go up. Then I wonder what happens if we find an alternative energy source? Do we stop trading oil? hmmm... By the way I am not an oil trader but there are two indexes in amex XLE and OIH and I am not sure which tracks the energy market more closely. Probably XLE (not sure). I have never traded them. finance.yahoo.com XLE 54.33 OIH 149 biz.yahoo.com ...After dipping as low as $68.20 a barrel, light sweet crude for June delivery settled at $68.69, a decrease of 84 cents on the New York Mercantile Exchange. Gasoline futures slipped by 5.1 cents to settle at $1.9751 a gallon, while heating oil futures declined by 3.03 cents to close at $1.9212 a gallon...

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