RE:RE:RE:chinese PMI tonight @ 9:001troffer wrote: Gashole1 wrote: d_trump wrote: It kills me how many posters here claim to know with certainty how low oil will go. Recall when oil fell below $30, everyone jumped on the "oil is going to $20 (or below)" bandwagon. Now everyone is so sure oil will go to $35 (or lower). Certainly there are some known headwinds but the question is whether these known factors are baked into the current price? Also for every known factor there are much bigger unknown potentials. IMO $35 is the new $20 - the low that everyone is calling for that won't happen. Despite all the current noise, oil fundamentals are much stronger than they were at this time last year - despite persistent high inventory levels, supply and demand are in balance and provided there is no global recession (you can never rule this out), we are headed to a deficit. However the magnitude of the deficit and speed at which we get there is unknown, but inventories will recede.
Certainly we could break $40 this week but we could just as easily bounce to $45. Chinese PMI is released tonight and the expectation is for 50. A significant beat or miss will likely be a good indicator of which way crude goes this week.
I have most of the "know-it-alls" here on ignore because if they really knew what they claim to know they wouldn't be wasting their time posting on Stockhouse, they would be on the golf course or their yacht.
Not sure if you have me on ignore or not, but I just call it the way I see it. I dont have a crystal ball to look out a year or 2, all I can do is look at what is going on today and how it may possibly (not a certainty) affect the price of oil going out a few weeks at most.. Trend is headwinds, and suggests lower oil. I dont think its going to plummet, but it could hit mid 30's again, heck its almost in the 30's now.. Lots of shorts getting back in, but that will only be temporary. I am quite sure way way out oil is higher and BTE will be over $10 again. Good luck everyone.
Trump and Gashole1, I have no idea about the price of oil, that is why I trade daily. Yet you have posters like BAGODOUNUTS AND SLINGERSNOT who posted 6 weeks ago that bte was going to 15.00 and that everyone should buy on dips, as if their advice is needed or wanted. Slinger was so confident that he offered to give DEEPBLUE 10ooo shares if bte ever hit 6.30 again, which it did, but SLINGSNOT chooses to not address that, and like BAGGODONUTS, he pretends to have traded out at 7.40, which , if he did, he sold at a loss of 1.60. Both of these mental midgets with the big mouths need to realize that their opinons are worthless as they keep changing. The only thing they are good at is trying to ridicule me for being on the right side of the trade. They ridiculed me for trading and then , because they are so far underwater, they said they also trade. HYPOCRITES BOTH OF THEM. PRAY FOR FORGIVENESS BOTH OF YOU LIARS
Troffer - I know what you are saying, and sometimes I just try and read between the lines with these posters, but someone that is continually saying the sky is falling and the opposite that something is continually a buy buy buy gets no respect from me because they are trading in fantasy land. You follow micro trends, I tend to be more week to week or month to month, but still similar as we both realize there are ups and downs... someone buying BTE at $5 and then holding it up till $9 and then back to $5 again is simply a fool and I think we can both agree on that point. !! Hence your elevator ride comments. Happy trading this week !!