Another Record ($147.27)

DantesPeak · Posted: Wed Jul 02, 2008 12:37 pm Post subject: Re: Another Record ($143.67)

Up $2 in the last 20 minutes.

Could it be speculators having to come up with the additional margin requirements to cover shorts bought back at the close?

sarcasm /on

No - that can't be - after all we have been told that speculators are only pushing up the oil market and couldn't possibly have bet on prices to drop. So there is no need for any speculator to cover short positions.

sarcasm /off
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vision-master · Posted: Wed Jul 02, 2008 12:41 pm Post subject: Re: Another Record ($143.67)

Zardoz · Posted: Wed Jul 02, 2008 1:03 pm Post subject: Re: Another Record ($143.67)

My God, look at Brent:

LiveCharts UK

It spiked over $146 and is still near it now.

TS really is starting to HTF isn't it?
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PeakingAroundtheCorner · Posted: Wed Jul 02, 2008 1:05 pm Post subject: Re: Another Record ($143.67)

New record: $143.96
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Sketh · Tar Sands Joined: Jul 02, 2005 Posts: 60

Duende · Posted: Wed Jul 02, 2008 1:10 pm Post subject: Re: Another Record ($143.67)

$143.73 - new record!

[Edit: Ah, late to the party Sad

]
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Sketh · Tar Sands Joined: Jul 02, 2005 Posts: 60

$144.13

Sketh · Tar Sands Joined: Jul 02, 2005 Posts: 60

$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.

emailking · Intermediate Crude Joined: Mar 11, 2006 Posts: 749

If it hits $145 then we'll know for sure that TS has HTF.

Zardoz · Posted: Wed Jul 02, 2008 1:58 pm Post subject: Re: Another Record ($144.13)

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

strider3700 · Posted: Wed Jul 02, 2008 2:00 pm Post subject: Re: Another Record ($144.13)

emailking · Intermediate Crude Joined: Mar 11, 2006 Posts: 749

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.

Sketh · Tar Sands Joined: Jul 02, 2005 Posts: 60

$144.32

catbox · Posted: Wed Jul 02, 2008 2:09 pm Post subject: Re: Another Record ($144.15)

Look at it go! Along with the market looking sick...it's quite a day!

catbox
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Armageddon · Posted: Wed Jul 02, 2008 2:10 pm Post subject: Re: Another Record ($144.15)

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.