Fly’s New Price Target For Oil: $2,000 per barrelby The Fly on May 16th, 2008 at 4:00 am |
Viz.
53 Responses to “Fly’s New Price Target For Oil: $2,000 per barrel”
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Why set your target so low?
May 16th, 2008 at 4:25 am$5k. Easy.
The Chinese officials have broken FXP through thier use of the China Put.
They prop up this market using “suggestions” to “key brokers/funds”.
May 16th, 2008 at 4:29 amThere will be no more credit crisis at $2000 crude. The “wealth effect” of the common man refining his jars of vaseline back into crude will send our economy soaring. Diaper rash will become a nationwide epidemic, though. Anyone who goes short crude is unpatriotic, boorish, uncouth and stealing the food out of my children’s mouths (and my net worth from off their asses)
May 16th, 2008 at 4:58 amWhat the hell? Don’t you guys ever go to sleep?
May 16th, 2008 at 7:25 amBig Mike, somebody’s always awake around here.
Worshiping a golden barrel of oil will be the new religion. At $2,000 a barrel oil is clearly bullish - go now, and buy whatever you want.
May 16th, 2008 at 7:31 amArt Cashin said it right at the beginning of April the bears have no balls, aka bearpussies. However it is better to be a pussy than bankrupt. You know that we are heading into the sort of inflation that makes swine like Bidu a veritable bargain. This is monopoly money - murderous Hanks is printing now and the GAO is finished as well as the Office of the Comptroller of the Currency. If you do not see a major breakdown at the next Treasury Auction, that will be your confirmation. The Chinese can’t play footsies with murderous Hank now that they lost Sichuan Province.
This is what this shit reform of the SEC and the CoC is about. The fuckballs have taken over the regulatory agencies. I am wondering how they intend to escape prosecution in the Obama administration.
May 16th, 2008 at 7:38 amlike i am going to get long after the market has moved up 10% in 8 weeks
keep bidding it up assholes, your day of reckoning is coming
May 16th, 2008 at 7:58 amWe better fucking hit a new record today. I was disappointed yesterday. This cannot happen again. I want to see a new high in steel too. Oil is just too damn cheap.
May 16th, 2008 at 8:12 amPut some capital aside. Use half of it to buy USO, the other half to buy UGA right now. It should be good for another 20% going into summer. If it goes down 20% your equities and other investments should benefit from the downturn in oil/gas. Weight your position accordingly.
May 16th, 2008 at 8:32 amAlias: BPOE
That is $2000 just for the barrel forget the fucking oil.
May 16th, 2008 at 8:38 amNo inflation just Oil Nation!!!
If the price of oil is at 125, and stays steady for the summer, that puts us above 4.50.
May 16th, 2008 at 9:10 amSo that means if you’re right, we’ll be paying $72 per gallon.
George Bush says $5/gal gas is good for the economy and I believe him.
Anybody got some blow? How about a pint of jimmy beam?
May 16th, 2008 at 9:17 amIf the barrels are made of steel the they will be worth more that what is inside. Amazing oil goes up and equities catch fire.
May 16th, 2008 at 9:19 amThese nuts buying DRYS have some balls, wow! Did they all seem to forget how low the shipping index was during the qtr they are going to report Monday? Time for some otm puts.
May 16th, 2008 at 9:21 am@Prospectus - Jars of vaseline can be used as collateral at the Fed window.
They can be converted to Treasuries and levered so you can buy more Ag and Steel stocks.
May 16th, 2008 at 9:24 amDoug Kass: YOU’RE not only FIRED ! , but you’re FRIED.
Nice Kass Katch Kall on your “Donald Trump” Top in oil and your subsequent pressing of DUG.
Doug go dig a hole with DUG.
Fondly,
May 16th, 2008 at 9:26 amThe Donald
Oil is topping out today. Don’t you turkeys
watch teevee and see all the stories about high oil and gasoline prices? SURE sign of the top. Today is fuckin’ OPTION EXPIRATION DAY for Chrissake.
AKA Pump and Dump Day.
May 16th, 2008 at 9:26 amOil was all over the “teevee” when it was blowing right through $100 fuckface. Quit watching CNBC and read more.
May 16th, 2008 at 9:33 amIf Berkshire stock goes any lower, I will end up replacing Buffet as richest man in Omaha.
May 16th, 2008 at 9:35 amHOLLY FUCKING SHIT! X is not worth 170, its worth 180 and zooming higher!!!!
May 16th, 2008 at 9:50 amdollar up (avg over the past several days)/crude inventories up/crude price up
don’t we usually only get to pick 2 out of the 3?
May 16th, 2008 at 10:00 amGap, go slap around some floor traders for me.
May 16th, 2008 at 10:07 amWood, I plan on punching out anyone who mentions the word steel today. Additionally I plan to go to lunch at Rivers today and spit on the guard at the door. http://www.riversrestaurant.com/default.php
Fucking assholes bidding up steel, you people are faggots. On another note did you know that the barrel that oil goes into costs around $60 for the steel? Good thing there is no inflation. I was starting to worry.
May 16th, 2008 at 10:20 am**PREPARE TO QUALIFY BOYZ**
YOU ain’t seen nothing yet.
***GET SHORT***
FINAL WARNING
May 16th, 2008 at 10:24 amAnonymous: Based on what? Its up up and away!
May 16th, 2008 at 10:28 amGaps –
You know why it’s called “Wacker Drive” don’t you?
Because that’s the street Big Al Capone picked to “wack out” most of his Prohibition-era rivals…
True story.
May 16th, 2008 at 10:32 amJake: I hate to correct people but thats bullshit. Charles Wacker built the fucker and thats why its called Wacker Drive. But any who its true that there are a lot of fucking idiots that visit that domicile each day known as the Merc, soon they will be gone, moving to the CBOT but their remains will haunt the fucker forever. Wow its sure rosy outside today, I am planning to start scraping steel with the local Mexicans this coming week, these fuckers are now driving Ferrari’s and shit with their major bank rolls.
May 16th, 2008 at 10:37 amNo more Crabcake and Braised Lamb at Rivers.
Maryland Crabcake $19.95
Pan Roasted Crabcake Served with Potato Shrimp Hash, Fresh Vegetables and Roasted Red Pepper Sauce.
Braised Lamb Shank $25.95
Served with Rivers Mashed Potatoes, Sauteed Spinach, Red Onion Confit, Lamb Demi and Truffle Oil.
Seems cheap when one pays in EURO’s.
May 16th, 2008 at 10:45 amGaps,
These are the jokes, they don’t get any better than this.
May 16th, 2008 at 10:49 amYou buy crabcakes in a land locked city on a freshwater lake, you’ll pay one way or another.
May 16th, 2008 at 10:50 amLOL those prices are poor steel mans change. I some day hope to be able to afford them.
May 16th, 2008 at 10:59 amCLNE is a piece of shit stock. Oil spikes and it tanks.
May 16th, 2008 at 11:00 amChina down, FXP down. BWAHAHA!! Pay up suckers!
May 16th, 2008 at 11:03 amOne of these days X will be a great short, I’m waiting for Gapping to be committed to an institute before i jump in, that should be the top.
May 16th, 2008 at 11:06 amKOL and its’ components look to be topping here with shooting stars …. still early but just saying
May 16th, 2008 at 11:10 amBush: “Increase production”
Saudis: “Lick our nuts, bitch”
May 16th, 2008 at 11:12 amWhen oil was flirting with $100 it was all over the TV because that was a “milestone” number, Crud Broker. Coverage was much less
at $110 and $120, and now here comes the coverage back big time on Option Expiration Day.
Do you think the transports are hitting new highs because they LIKE high gas and
oil prices?
Go broker your crud somewhere else. Only those with short dicks are longing oil today.
May 16th, 2008 at 11:19 amBanD, Everything either one of those two say is strictly for public consumption and both are practiced liars.
In other news, CLNE down like a cheap ho.
May 16th, 2008 at 11:20 amI’ve been a raging bull since the SocGen capitulation selling climax in January. I posted two weeks ago that I got mostly flat. Now I’m putting some index shorts out. Right now I’m considering it a short term trade. But if commodities don’t roll over soon I’ll press the shorts and abandon my long bias and 1625 year end target.
If chivas is out there, I’d love to know what he’s thinkig.
May 16th, 2008 at 11:25 amgappingandyapping:
I will be in Chicago in mid August. What is the weather like then?
May 16th, 2008 at 11:26 amFITB will take a brief rest at $19.00 and then resume its descent.
May 16th, 2008 at 11:32 amZOLT getting bought out? whatever’s going on there is more dramatic than a mere squeeze.
May 16th, 2008 at 11:35 amSpeaking of rumored buyouts…. If SKS can hold above $13.90 here, it’s going to $17.00.
At least.
May 16th, 2008 at 11:37 amLots of call buying on DRYS -1.7 to 1 puts…all time high is 120 - there are no excess ships and with steel so high they can’t just slap another one together - pony up for higher rates - China needs emergency stuff and BRazil? no-brainer….I am holding (gulp) thru earnings unless someone has a piece of info I don’t….???
May 16th, 2008 at 11:38 amHold it.
May 16th, 2008 at 11:41 amClean Up needed in Shower #4!! CLNE just deposited.
May 16th, 2008 at 11:43 amPud,
e-mail me. jfernandez5357 bellsouth.net
in and out of meetings all day today. will e-mail back tomorrow.
May 16th, 2008 at 11:44 amZen,
It is hot and humid in Chicago mid-August. Heat and humidity both get into the mid 80s.
May 16th, 2008 at 11:45 am“Only those with short dicks are longing oil today.”
Funny how you make your market calls on who is covering what and how much on the news and CNBC. You are a market magician.
“They are talking so much about it, it must be a top. I’m selling.”
Dipshit.
May 16th, 2008 at 11:56 amPud,
May 16th, 2008 at 12:04 pmI like your thinking, but you might be a little early on your call for a near term top (?) here. Nonetheless, it is coming sometime in the near future. Certainly sometime this summer.
Bush to Arabs: Take Our Money, Pleeeeeeze!!!!
http://www.ft.com/cms/s/0/be0d6daa-2347-11dd-b214-000077b07658.html
Saudi Arabia pledged to increase oil production to its highest level in two years, bowing to intense US pressure after the price surged on Friday to a fresh record of almost $128 a barrel.
The decision to boost output by about 300,000 barrels a day came after a personal plea by US president George W. Bush to King Abdullah of Saudi Arabia in Riyadh.
So, 300,000bbl/day x $150/bbl x 365/yr = Holy Crap!!!
May 16th, 2008 at 1:36 pmAlpha, what are you looking at to signal a near term top?
May 16th, 2008 at 2:56 pmPud,
You can’t pick a market top until after the fact (which is another way of saying you can’t pick a top without a time machine.)
To answer your question, I believe a market top will be when the current leadership starts to shit the shower,e.g. energy, materials, industrials.
In application, it’s easy to see on the PnF charts when XLE, XLB and XLI reverse back into a column of O’s.
May 16th, 2008 at 5:10 pm