Crude Oil Prices

$115 - $120 Oil?...bah, who cares!



Declining retail sales, housing still screwed, energy and food commodities skyrocketing - I know the market anticipates future conditions but don't the glasses seem a little extra rosy right now?

We bought a lot more Macs and stuff from Amazon. So everyone's staying home and on the internet. Does that mean the rest of the economy doesn't matter? Housing in the cellar - ha, so what, Mariah Carey had a lot of Amazon downloads!

From a short perspective, probably the creepiest thing about this stock market is the way we dinged $120 on oil and we rally anyway. If we get short capitulation here in the next few days, we could blow through resistance and get a monster rally.

Plenty of mutual funds and pension funds are sitting on huge amounts of cash after selling stock for the last six months and they exist to hold long stock. That's what they do. They sure as hell aren't in business to short stocks. If they start leaning on this thing to the upside that will push things a lot higher.

Do you know anything about a broker company called Morgan Soloman based in London. They have approached me about a deal to be announced tomorrow re oil shares. No names given to me as against dealer trading ethics but says these oil shares are going to give at least a 25% profit in the first year. Oil shares have been on the increase over the past 8 years and my husband and I bought shares in an oil company called Dragon Oil and in this time we have seen our investment rise by 400%
So just need to know this company is legit, have tried to find info but maybe I am not looking in the right place.

Angiebabe said:

my husband and I bought shares in an oil company called Dragon Oil and in this time we have seen our investment rise by 400%
So just need to know this company is legit, have tried to find info but maybe I am not looking in the right place.

Click to expand...

I hope that was pocket money you invested, because I'm not so sure you will get it back

Also taking all things into account, i think i read a report by DB that oil would need to reach $150 before been at similar levels to previous price spikes

In my not so great opinion oil is coming off HARD as soon as the fed signal rate hikes. At which point Im going to re mortgage and put everything I own into shorting oil & Buying dollar index...wish me luck, it could be a while though

Crude oil prices

The main reason behind falling oil prices is the strengthening dollar. The market was still oversupplied with oil since OPEC’s decisions on curbing output took in the 149th ministerial meeting of the organization, have not yet been fully implemented. Crude oil fell to below $100 a barrel yesterday for the first time since March. There might be other reasons also. :clap:
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