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Sketh
Tar Sands
Joined: Jul 02, 2005
Posts: 60
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 Posted: Wed Jul 02, 2008 1:08 pm Post subject: Re: Another Record ($143.67) |
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| PeakingAroundtheCorner wrote: | | New record: $143.96 |
$143.97, but big resistance. Could move up really sharply if it blows through $144. |
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Duende
Heavy Crude
Joined: Nov 27, 2004
Posts: 235
Location: The District
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| Posted: Wed Jul 02, 2008 1:10 pm Post subject: Re: Another Record ($143.67) |
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$143.73 - new record!
[Edit: Ah, late to the party  ]
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What fortune has made yours is not your own. -Seneca |
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Sketh
Tar Sands
Joined: Jul 02, 2005
Posts: 60
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| Posted: Wed Jul 02, 2008 1:16 pm Post subject: Re: Another Record ($143.67) |
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| $144.13 |
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Sketh
Tar Sands
Joined: Jul 02, 2005
Posts: 60
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| Posted: Wed Jul 02, 2008 1:43 pm Post subject: Re: Another Record ($143.67) |
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$144.15 is the high for now.
You can almost watch the DJIA move in inverse step to the oil price at present. Currently down 133.86. |
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emailking
Intermediate Crude
Joined: Mar 11, 2006
Posts: 753
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| Posted: Wed Jul 02, 2008 1:49 pm Post subject: Re: Another Record ($144.13) |
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| If it hits $145 then we'll know for sure that TS has HTF. |
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Zardoz
Expert
Joined: Dec 02, 2005
Posts: 6684
Location: Oil-addicted Southern Californucopia
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| Posted: Wed Jul 02, 2008 1:58 pm Post subject: Re: Another Record ($144.13) |
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I'll be genuinely shocked and surprised if Nymex crude does not hit $150 by July 15.
That's a huge psychological threshold to cross, but the mighty forces that are at work now will inevitably push us over it.
Who would've guessed we'd be here so soon? This is really amazing.
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"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen |
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strider3700
Fission
Joined: Apr 17, 2005
Posts: 2752
Location: Vancouver Island
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| Posted: Wed Jul 02, 2008 2:00 pm Post subject: Re: Another Record ($144.13) |
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| emailking wrote: | | If it hits $145 then we'll know for sure that TS has HTF. |
HAHAHAHA we've heard the same at $50, $75, $100, 125, and now $145 but most say $150.
you'll know the TSHTF when the cities are burning and food is no longer moving more then a couple of miles a day. Until then it's all just fun economic chaos.
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shame on us, doomed from the start
god have mercy on our dirty little hearts |
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emailking
Intermediate Crude
Joined: Mar 11, 2006
Posts: 753
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| Posted: Wed Jul 02, 2008 2:05 pm Post subject: Re: Another Record ($144.15) |
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| Well I've been following PO for 3 years but done nothing. I decided 2 years ago that if it got to $145 I would start preparing. So that's my personal SHTF scenario. |
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Sketh
Tar Sands
Joined: Jul 02, 2005
Posts: 60
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| Posted: Wed Jul 02, 2008 2:06 pm Post subject: Re: Another Record ($144.13) |
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| $144.32 |
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catbox
Heavy Crude
Joined: Sep 29, 2005
Posts: 456
Location: I heard we are not the real America..Eugene, Oregon.
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| Posted: Wed Jul 02, 2008 2:09 pm Post subject: Re: Another Record ($144.15) |
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Look at it go! Along with the market looking sick...it's quite a day!
catbox
_________________
Punk is not really a style of music. It was more like a state of mind.
-Mike Watt |
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Armageddon
Fusion
Joined: Apr 13, 2005
Posts: 3162
Location: St.Louis, Mo
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| Posted: Wed Jul 02, 2008 2:10 pm Post subject: Re: Another Record ($144.15) |
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| No worries, I was told by a guy today that McCain will take care of everything. He will drill in ANWR and off the coasts, and build nuke reactors and we will all be driving electric cars in the next 5 years. Nothing to fear. |
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strider3700
Fission
Joined: Apr 17, 2005
Posts: 2752
Location: Vancouver Island
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| Posted: Wed Jul 02, 2008 2:11 pm Post subject: Re: Another Record ($144.15) |
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| emailking wrote: | | Well I've been following PO for 3 years but done nothing. I decided 2 years ago that if it got to $145 I would start preparing. So that's my personal SHTF scenario. |
well we didn't quite make it today but I'd recommend you start now anyways.
_________________
shame on us, doomed from the start
god have mercy on our dirty little hearts |
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wisconsin_cur
Moderator
Joined: May 10, 2007
Posts: 3228
Location: Resiliency Farm
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| Posted: Wed Jul 02, 2008 2:22 pm Post subject: Re: Another Record ($143.67) |
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| PrairieMule wrote: | | Any predictions on 4th of July consumption? I know compared to Iran and Nigeria, holiday consumption is still a minor factor. OTOH-Maybe that is what breaks the camel's back. Memorial day was a bust, traffic was down everywhere. If we Americans go out and use what's left of their credit cards with a roadtrip, that could send us to us through $150(or higher?) by Monday. |
As I observed earlier, I was actually shocked into silence as I was talking to some co-workers this week. They were talking about how it was not a big deal to travel a long distance on vacation because it "was still cheaper than commuting to work." The thinking seems to be that since it is a paid vacation they are "saving" money by driving to Wyoming instead of going to work.
Net effect: A lot of people are using ~the same amount of fuel, just spending less on other things. Demand is being destructed, just not as much demand for transportation fuel that we would expect.
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“It does not do to leave a live dragon out of your calculations, if you live near him.”
J.R.R. Tolkien |
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sjn
Intermediate Crude
Joined: Mar 09, 2005
Posts: 613
Location: UK
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| Posted: Wed Jul 02, 2008 2:32 pm Post subject: Re: Another Record ($144.13) |
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| Zardoz wrote: | I'll be genuinely shocked and surprised if Nymex crude does not hit $150 by July 15.
That's a huge psychological threshold to cross, but the mighty forces that are at work now will inevitably push us over it.
Who would've guessed we'd be here so soon? This is really amazing. |
Me!  Oh, sorry, that was rhetorical wasn't it?  |
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bonehead
Heavy Crude
Joined: Oct 15, 2007
Posts: 199
Location: Northeast U.S.Heating oil heaven.
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| Posted: Wed Jul 02, 2008 2:39 pm Post subject: Re: Another Record ($144.32) |
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There's a very real possibility it could hit $150 tomorrow if the ECB raises rates as predicted.It really looks like the dollar is going to take another big hit.The freight train is gaining momentum and is going to be extremely difficult to stop.
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Gimme some demand destruction. |
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