I think we're just days - maybe even hours - away from an oil correction. The $100-per-barrel psychological ceiling loometh, and the correction cometh.
Then again, you cannot make predictions about the markets.
Onward, with the prediction.
(Or as Samuel Beckett said: I can't go on; I must go on.)
Very soon, there will be a sudden, unexpected report that U.S. oil reserves are much higher than expected. That will begin a trickle in downward oil prices. Then we'll start hearing about a mild-to-average winter being expected. And that will send oil down a bit more sharply.
But not too sharply.
Sound fantastic? Keep in mind, oil was trading at $85 about a week ago. We're in uncharted territory here. And if you expect the market to act rationally and continue on some upward trend that makes sense for any fundamental reason, you're smoking something green... not just investing in green.
The other thing is the economic slowdown in the U.S. and - soon to follow - abroad. Since we can't leverage our houses for cash anymore, we can't buy giant-screen TVs every weekend anymore. That means lower demand and lower production, lower shipping, lower transport, less oil consumed.
That's my story and I'm sticking to it.
What do YOU think? Is oil headed for a correction?
Tuesday, October 30, 2007
- Become a Brazilian Ethanol Venture Capitalist for ...
- The Big Oil Swoon Cometh? Whaddya Think?
- Green Energy Resources Rallys 12.5%... And Keeps t...
- WMI Hit Hard After Earnings Announcement
- Update On Our Oil Prediction
- A Note About Over the Counter Stocks and Green Inv...
- Our Green Investments Portfolio: Up 266%... Includ...
- Green Energy Resources Scores $5.5 Million Contrac...
- Beating the S&P 500 by 2,000%... with ONLY Green I...
- Our Green Energy Resources Position Jumps 18.75%
- Tom Brady IPO... The Coming Stock Rally... Oil Loo...
- Markets Meltdown... WMI Rallies... Plus 6 Steps to...
- Add Waste Management (WMI) to the Evergreen Portfo...
- Our New Pick Is Coming Soon
- Our Green Energy Resources Play Jumps 11%!
- Our D1 Oils (Jatropha) Play Jumps 21%
- Yingli Green Energy: The Hottest Green Energy Stoc...
- Ugly Markets... Gay Budgies... And Green Investmen...
- This Thursday, Oct. 18, I Reveal... "The Dirtiest ...
- Please Give Me Your Ideas for Our New Global Green...
- Our Bunge Play Is Up 46.23%... Lock In Profits Usi...
- D1 Oils: The Only Pure Jatropha Stock in the World...
- Sell BG Options and Lock in 10% Gains in 8 Hours!
- Bunge Trips... As Expected
- New Recommendation: Bunge April 2008 Call Options
- LDK Solar Bounds 19%... Glad We Sold It!
- Correction: Professional Money Managers Are Even W...
- Random Walk Down Green Investment Street
- The Best of 4 Cleantech Indexes
- Green Investments and the "Tipping Point" of the M...
- Why We Use Trailing Stops
- Add D1 Oils to Our Portfolio at $4.15
- LDK Stops Out at $53.28... Hands Us 95.88% Gain
- Why Big Retailers Are Going Green
- New Recommendation: PZD
- Green Investment Highlight: Kookmin Bank
- ▼ October (36)