Image of the day

From the
ATWB Customer Gallery

Messier 13 Hercules Cluster

My Account

New to Astromart?

Register an account...

Need Help?

Another think- oil?

Started by FOCUS, 08/01/2009 03:17PM
Posted 08/01/2009 03:17PM Opening Post
A while back there were a few guys on our little board telling us oil was headed to $200 or $300 or $1000 per barrel, I forgot the exact amount. I shorted it around $142.
What say you now? I need another trade. shocked
Posted 08/04/2009 04:57AM #1
Brian Sledz said:
A while back there were a few guys on our little board telling us oil was headed to $200 or $300 or $1000 per barrel, I forgot the exact amount. I shorted it around $142.
What say you now? I need another trade. shocked

When you had analysts at Goldman predicting $200-$300 I figured it had to be getting close to a near-term top. When the analysts' upside predictions get proportionally outlandish, it seems to be the classic sign of a peak. I have recollections of analysts predicting Qualcomm going to $800 the day it hit $400 or something like that in 2000.

Longer-term, ultimately the production problem is real enough and the price will trend upward, but alternative energy sources (wind, solar, what have you) will ultimately put an effective ceiling on that price. Where that ceiling is is changing with time due to changes in cost-effectiveness of various options of course. I don't know where it is right now.
Posted 08/04/2009 05:51AM #2
If you were watching Qcom back then- it did go to $800 then had a 4 for one split

A $32k investment in Qcom in 1998 was worth 1.8 million in April 2000


Mark