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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: lonesomemoose1 who wrote (88939)	8/8/2007 5:07:24 PM
From: Umunhum	Respond to of 206325

Back in April you said "still believe things are going to get interesting this Summer. I thought that crude would be over $80 by now and so I am in the wait and see mode. I plan on attending the ASPO conference in October to see if I can get any insight as to whether we've peaked or when it might happen if we are not already past peak. I am very interested in Jeffrey Browns' aka Westexas contribution to TheOilDrum about crude exports already have peaked. If so, the price of crude should slowly ramp up with tightening inventories. Matt Simmons should be on with Puplava next Saturday (August 18th) and I'm looking forward to hearing what he has to say. I've got my eye on both Saudi Arabia and Russia: eia.doe.gov eia.doe.gov When Saudi Arabia goes below 8 mbpd or Russia below 9 mbpd, I plan on going "all in". I expect one or both of these events to take place in the next 18 months. If we get a shoulder season sell off, I plan on buying the leaps you mentioned. I like to pay less than 50 cents per $1 of intrinsic value so if I was going to buy right now I would be buying ECA Jan '10 strike 60 @ 13.60, CNQ Jan '10 strike 70 @ $16.80 and SU Jan '10 strike 90 @ 25.2 - and yes they do seem expensive. In the meantime I am holding all the stocks you mentioned. I have been trying to buy options on long dated crude contracts but so far have had no luck despite putting in offers on several contracts well above the stated price.