Oil & Gas Price Economics Message Board

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Gold/Mining/Energy : Oil & Gas Price Economics

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To: Ed Ajootian who wrote (9)	12/3/1998 11:25:00 PM
From: Razorbak	Read Replies (2) of 350

Time to be contrarian? Ed: <<This stuff is hard to take emotionally but the more I see it the more prepared I get to bolt from the oil market.>> Someone once said, the best time to be a bull is when the last bear has thrown in the towel. IMO, I see a HEAP of towels in front of me right now, and at $10/bbl, there's not many towels left to throw. Maybe it's about time to get bullish again? Statistically speaking, making an investment in the oil sector at current price levels is a no-brainer if you're able to wait 18-24 months for your return. The beauty of this industry is that it is sooooooo very easy to upset economic conventional wisdom with a little geo-political turmoil. With this kind of overwhelmingly negative sentiment, a little hot war in any volatile region with a major oil choke point or something unexpected like an assassination in Saudi Arabia or Russia could turn this current market on it's ear in no time flat. At times like these, my contrarian bottom-fishing sensors start going haywire. Razor

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