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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Wyätt Gwyön who wrote (91167)9/28/2007 2:27:27 PM
From: Umunhum  Read Replies (3) of 206131
 
I just picked up 2 more Crude Oil future contracts bringing my total to 45. I bought a December 2011 and a December 2012 both for $72.00.

My game plan is to attend the ASPO meeting on Oct 17th-20th, if the information I learn there confirms my belief that net exports have indeed peaked, I plan on doubling my position in Crude Oil contracts.

Ultimately, I would like to control 100 contracts or 100,000 barrels. My minimum target is $120 or about 5 million in profit from today's price.

I thought it was interesting that on today's call Don Coxe recommended investing directly in the commodities themselves instead of the producers. It also warmed my heart to hear that both COSWF and SU have a contract with the Alberta Government stipulating their royalty rate until 2015. I wish there was no time line but at least its something.

I continue to believe that long dated Oil futures contracts provide the best risk vs. reward way to play peak oil.
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