Oil is Dropping -- How low will it go?

BigTex

The perfect investment advisor would arrive at our meeting on a bicycle with his BOB over his shoulder.

He would say to me: "For the first hour we talk you're going to think I'm crazy. After the second hour you're going to think I'm brilliant. After the third hour you're going to be asking me how much I will sell you this bugout bag for. At the end of the conversation, I won't recommend anything to you, I will simply ask you what the obvious course of action seems to be."

As the meeting ended, he would give me his bugout bag as a gift (which I would snatch and hold closely). I would walk him out and there would be a stretch Prius limousine with a bike rack on the back and his chauffer would be loading his bike onto it.

As he drove away I would look at his business card and see that the only way to contact him would be by HAM radio.
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Smile

NoWorries · Tar Sands Joined: Jun 05, 2008 Posts: 73

It's clearly trending down now.

I predict $120 by August, and $100 by September. Possibly sooner. It will likely settle in the 90-110 range for rest of the year.

The big story will be the worsening economy. I expect things will be much worse by end October.

VMarcHart

Blacksmith

You mean I can take my SUV out of mothballs. Hold on Gertrude here we go!
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Appuis ait fabrum esse suae quemque fortunae.
Alias Redneck

TonyPrep

CoachT · Coal Joined: Jul 02, 2008 Posts: 9

Cashmere Wrote: Reminds me of the time I was in a bank and the Teller saw my 6 figure checking account number and asked me if I would like to see a "financial advisor" about investing the money.
Keep on saving kid. 6 figures will not get you far.

Mominator · Heavy Crude Joined: Jun 26, 2008 Posts: 106 Location: FL

Mominator · Heavy Crude Joined: Jun 26, 2008 Posts: 106 Location: FL

Cashmere · Light Sweet Crude Joined: Mar 27, 2008 Posts: 1448

threadbear · Expert Joined: Jan 22, 2005 Posts: 7134

TreeFarmer · Heavy Crude Joined: Jun 26, 2007 Posts: 299

As far as the little side thread going on about investment adivce, my thouhgts have always been to take advice from people who have proven over time they can make and hang on to money.

Most likely the investment advisor sitting in a cube farm is a young guy who has not proven anything yet that I would consider noteworthy. Before the current young guy the company had me assigned to an older guy, by older I would say he was early 60's. From talking to him I got the impression I had more money than he did even though I was 20 years younger. Now, I've always heard that you can do well as far as income selling financial products, much better than I do teaching at a university. Given that, I wouldn't take advice from him either because I felt that he should have been much richer than me.

I guess if I'm going to take advice from someone they have to be able to "show me the money" as in they've made it for themselves. Now, if they really want to impress me, they can take me to the marina, and in a play on the old joke, they can show me the customer's yachts.

TF

DantesPeak

Oil is going to turn around as early as tommorow. Mid-month in July the US will experience a signficant drop in oil imports due shipment declines from Nigeria, Mexico, and yes, even Saudi Arabia.

When it becomes apparent that crude inventories on hand are heading towards low levels, I would not be surprised if we hit a new high for oil about the end of July or early August. However that is not a specific prediction.

Due to US monetary policy, maybe best described by Bernanke today who said - to paraphrase - we face an unusal short term situation that may continue for a long long time.

That means full speed ahead for inflation.
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It's already over, now it's just a matter of adjusting.

DoomWarrior · Heavy Crude Joined: May 06, 2008 Posts: 208

misterno

Relaxxxx guys, the markets are very nervous that's all

It will come back and even surpass $150 with a little bad news.

Just relax and wait.

That is what I am doing.

DoomWarrior · Heavy Crude Joined: May 06, 2008 Posts: 208

I ...... can't ....... relaxxxxx