Post by
smallcaptdr on Oct 04, 2022 4:01pm
CPG has a great runup to $9.54
If we have another day of higher Oil prices we should be knocking on the door at $10 SP if Oil keeps jumping $3 a day then we should be knocking on the door of $90 Oil. If the economy was bullish with OPEC cutting production we would be in the $90+ already so hopefully OPEC comes out with an announcement tomorrow giving us the facts then we can better understand where Oil is going. Having $90+ Oil would be a huge leap forward but does the market have it in it, we'll know soon enough. And let's understand that the only ones who want higher Oil are producers and holders of Oil stocks because everything aside from that is wrong pushing Oil prices higher as we enter a global recession. How much can the markets take before a breakdown comes? Europe is in a huge crisis and the last thing they need is higher costs of energy, China is still in limp mode, the US is heading for harder times, and every other country that has interest rates increasing doesn't need higher Oil prices. Higher Oil is the worst thing to do right now gouging people to pay more. We'll see how long Oil stays inflated before Oil returns some of this bullishness.
Comment by
woodsmen on Oct 04, 2022 9:08pm
Nothing but a Hornswoggler... I bet the CPG board is glad you showed up!!