[richardmmm]

don't forget the old addage...............

the rumors are over,

the disruption problems are now headline news.............

we all know what happens next..............

but is there anyone left with the balls to start shorting ?

[Dukat_Reloaded]

Get out of any investments. The australian stockmarket tanked today on fears for the US economy. Tomorrow I going to buy more gold and a trolley full of canned food from the supermarket. Common, oil $70? scotty...the market just can't take it captain.

[Grimnir]

Methinks that if the plunge protection team exists, they'll be having a long night and day to follow.

[richardmmm]

aussie market was due for a pull in, japan also fell, oz probably just following suit.

the press writes lots of stories, that's their job, the reality does not always match up.

if you are a hedge fund holding 500 contracts on crude in each month out for 2-3 years. now is a great time to liquidate.

when else are you going to get schumcks rushing to buy at $70 ?

this hurricane is the best news, it will get the big speculators to start liquidating, leaving small fry holding the can.

[KevO]

$this->bbcode_second_pass_quote('dukat', 'G')et out of any investments. The australian stockmarket tanked today on fears for the US economy. Tomorrow I going to buy more gold and a trolley full of canned food from the supermarket. Common, oil $70? scotty...the market just can't take it captain.

[Grimnir]

The price has fallen below $69 now. Looks like a lot of people must be thinking the same thing. It remains to be seen what morning will bring...

[KevO]

$this->bbcode_second_pass_quote('Grimnir', 'T')he price has fallen below $69 now. Looks like a lot of people must be thinking the same thing. It remains to be seen what morning will bring...

[Jaymax]

I just bought November'05 Gasolene at 1.9374/gallon...

We shall see.

--J

[Geology_Guy]

You can't eat gold, but gold is money-it is not temporary. 2000 years ago a gold coins would buy you a good chariot. I am sure 1000 years from now a gold coin will still buy a good chariot....

[Dukat_Reloaded]

Thanks Geology_Guy, I was going to pretty much say the same thing in response to the person who said gold is a tempory investment. It may be a tempory investment if you have paper contracts for the yellow stuff. When people start cashing in their contracts for delivery of gold, I quite sure there will be a shortfall because I think alot of paper gold has been made up. I think there is double the amount of gold floating around in paper contracts than what there is in acual gold. I obtain physical gold so I should be ok. Also who knows, after the crash gold could become the currency again.

[Ming]

Gold is a useless token.
Its value depends only in assuming others will want it at a good price.
I don’t think it will be a save haven for the future...

And...
I also bought 1 (Dec05) HU, at 18450.
And closed a couple of shorts in Nov05 CLs...

I also have most of my retirement money in 2010 and 2011 CLs, but had some shorts in Nov/Dec05 to protect a short term drop to, perhaps, $55, or close to that…
But now, I'm afraid the of the real news (to be known tomorrow of after tomorrow), and I don’t want to be so evenly balanced between long-term longs and sort-term shorts…

[MrPC]

Could one of the moderators perhaps fix the subject line on this thread so that it's not SHOUTING at forum readers? TIA.

[Dukat_Reloaded]

Gold is not a useless token, it's value is retained in the costs in human labour it takes to mine and refine. Currently the costs are around $400 oz to mine. Gold is a safer bet now than oil.

[Armageddon]

just read it in a soft undertone and wont come across as shouting. how's that ?

[smiley]

Now is not the time or to sell. There is not enough information, not even rumours.

The hurricane itself was factored in the price. In one or two days when the first damage reports are coming in we will see what the price is going to do.

A big factor is also whether Bush is going to open the SPR. The market seems to think he will. Which is funny because we don't even know if the facilities there are damaged.

[OilsNotWell]

Nice to have an opposing opinion here Richard3M...

but you're much to slick for us local yokels...I'll bet you've got a financial stake in the short-side...like we learned about Mike Lynch...What's your angle? I think you're full of crap.

your comments in their totality in other threads lead me to believe this..

Perhaps someone else with more patience

You still haven't answered my question:

How much are you in for?????

See these threads for starters:

$this->bbcode_second_pass_quote('', 'c')arbon based and perectly valid alternative.

you can even test it out at home, so don't start all this sceptical doomday crap until after you've finished setting this lot up.

http://www.peakoil.com/fortopic11652.html

[sameu]

I really want to buy oil features
but no clue where to start
minimum investment is 1000 barrels I believe
anyone experience with this?

[Dukat_Reloaded]

sameu didn't someone say on this thread that as soon as oil prices reach a high, the longs sell and the small fry public rush in and buy. I strongly recomend against investing in oil futures (not features). It's impossible to predict how oil will run

[Ming]

You need to open an account in a futures broker.
(I use REFCO and MAN, but there are lots to choose.)
And for long term, yes, each contract is for 1000 barrels.
(For short term you also have the electronic trade GLOBEX QM contracts, for only 500 barrels.)