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

To: CommanderCricket who wrote (101908)	6/1/2008 10:07:51 AM
From: GREENLAW4-7	Respond to of 206325

Michael, Do you recall what it was like on this thread in Jan and February? Most were of the opinion that a serious slow down in economy was happening. Not to mention the credit issues and housing defaults. At that time Oil was on its way back from 100 area and on verge of breaking 85. Rewind the thread and read what many OSX experts were saying. Demand was slowing IEA also said slowing was just beginning, and predicted a tough time in the patch. GOM was in a rut and most were selling this sector with the clear problem being a contracting economy is death for osx, and back then it was a Global threat. Then we get the big boys getting togeather and pretty much running the products to a level never seen before(in my lifetime). Its clear to me come Sept-Nov time frame energy/oil will be a very serious political football. So pit traders had a very narrow window to pull a NASD 5K out of the index and products. They did a fantastic job. I give most of the credit to Goldman's boys. Like what they did to CDO's the last 2-3 years they have been doing no different with the CRB. Again like in Housing its the little guy who loses his home, and its the average Joe who is getting crushed with $4.00 a gallon gas. But what is different in the Oil market is everyone and everything is connected to crude usage. When it hurts you its hurting a lot of other people much, much worse. The bottom line fundamentals which have been preached on this thread for the last 7 years says Oil should be $45--$65 top line. Remember we have no Iranian threat, No Hurricane, No Line's at the stations. All we have is Goldmans 30 year old expert saying oil is going to 150-200. Oh I forgot that other putz, Boone -I can Not pick my own nose-Pickens. I do think its not out of the question that oil does go to 150 possibly but not likely. But in that scenerio Dow will be at least 1500 points lower taking OSX with it. Watch the exit door and how quickly is closes on OSX on the way down. Remember summer of 2006?? I do! GL