Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: quehubo	10/3/2006 9:57:12 PM
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OIH and the 24 month WTI strip back to where they where about 12 months ago. The non peak oil crowd cheers and feel vindication when oil drops to $65 on the 24 month strip when they are looking for $35-40 dollars. This selloff is 3/4 from the lack of GOM damage this hurricane season and 1/4 from probably a little more supply available than the market expected. The bearish weather in September on top of no hurricanes did not help. A 12-18 from now these equity prices for many will look cheap. This flush feeling in the markets is just a small cycle down super imposed on a long term upward cycle. Up to about 40% loaded with some OIH picked up today. Not feeling bullish here but I dont think the 24 month strip has much further to fall, maybe $55 before Winter sets in or OPEC gets serious.

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