Quote:
Originally Posted by Kevin
Now the word is oil to go up to 149/ish.
Beauty. Our economy is in for a rough future. (IMO)
I hear T. Boone Pickens is LONG on gas stocks too.
Save your coin. There's gonna be a ton of stuff on sale in the next year to 2 years if Im reading this right.
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Goldman said $149 beause they have a vested interest int he price of oil. Remember analysts on CNBC usually have a postion (long or short) so use caution!
Global demand is down. The world economy is struggling. Oil should stay around $100, and might indeed hit $80. And then who knows what happens if McCain takes charge and domestic production increases...And then there's the value of the dollar. Remember oil is traded in dollars so the as the dollar gets stronger the price of oil falls.
Definitely lots of shaking out going on, especially in the financials. LOTS on sale now and for the months to come.