To: marginnayan who wrote (70569 ) 10/27/2007 1:43:12 PM From: marginnayan Read Replies (4) | Respond to I in August of 2006 that $100 oil would be the solution and not the problem. It will cause people to look for substitute energy sources. However, I did not think we would see $100 oil so soon. I was asking in January of this year, with oil bouncing around the mid-50's (down from a recent $77) whether oil should be $40 or $80? Today, oil hit $92 before selling off a little at the close to $91.86. It is hard to imagine that $90 oil is not going to have some impact on consumers. If you heat your home with oil, and tens of millions do, you are going to be wearing more sweaters in the house are you are going to have a much higher bill this winter. One of my favorite movies of all time is Trading Places. It is Dan Akroyd and Eddie Murphy at their best. But one of the great lines comes from Don Ameche and Ralph Bellamy, who play the two older brothers Randolph and Mortimer Duke, respectively. The world of orange juice prices go against them, Don Ameche turns to Bellamy and yells, "Sell! Mortimer. Sell!" But there was no one on the other side to buy, and they went bankrupt. The dollar could bounce back viciously before that, as everyone everywhere is bearish. There needs to be someone on the other side of the trade. One of the great rules of trading is that when everybody is on the same side of the investing boat, the boat is going to turn over.
