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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Umunhum who wrote (91382)10/2/2007 3:32:44 PM
From: GVTucker  Read Replies (2) of 206121
 
Umunhum, RE: I think $20 is adequate to defend purchasing a December 2011 contract from margin call. I don’t think that we will see the December 2011 contracts trade at $53 ever again. All the news that I have been reading over the last two years has been bullish for crude prices. I can’t remember when I last heard an intelligent argument for lower crude prices going forward. I’m at the point where it is not a question of whether oil prices are heading higher. It is when will they break $100 and how high are they going to go?


If you haven't heard an intelligent argument for lower crude prices going forward then you aren't listening. I'm not saying lower prices are a done deal, but higher prices aren't a done deal, either.

Crude demand in the US declined last year. It isn't out of the realm of possibilities to see other countries exhibit a similar demand pattern. If you want to see a detailed picture of how crude prices could go lower, CERA is a good outfit that is bearish on crude prices.
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