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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (9339)	11/17/2008 7:15:42 AM
From: skinowski	Read Replies (1) \| Respond to of 41420

Having worked for myself for most of my life, I have great respect for "fixed costs". Demand for energy is such a fixed cost. Once humans get accustomed to drive, heat their homes, have electricity - it's very hard to go back. Read somewhere over the weekend that even with the recent slowdown, the demand in China is up several percent year over year. In the meantime, investment in new capacity - and even in maintaining the old capacity - is collapsing. But - it is not possible to make a bottom without large numbers of people expecting new lower lows - if that were not the case, the turn would have already taken place... -g. At every major low and at every top, close to 50% of the fundamental (and probably technical) players must still be convinced that the trend will continue. I'm not calling a(n energy) low here, but when such a low will eventually occur, I do expect great numbers of knowledgeable and thoughtful commentators to point to many reasons for the prices to continue to go down. Just as Matt Simmons was calling for $300 Oil last summer, near the top.