by copious.abundance » Fri 23 Oct 2009, 22:11:32
$this->bbcode_second_pass_quote('Dr. Ofellati', 'O')P and guy right above me - practice makes perfect.
Say it with me - "it's all speculation. The rise in oil price is not based on fundamentals."
Practice practice.
Some day, a few decades from now, our donkey carts will cross paths and you can comment that there's plenty of oil but speculation has caused us to drive donkey carts.
Compare to this$this->bbcode_second_pass_quote('Schmuto', 'O')FII -
I thought we already went over the "bragging" thing?
Why the hell would I "brag"?
I'd rather have oil stay at 10 bucks a barrel until I'm the hell off this sh-thole.
No bragging at all - I'm not the one raising the price.
It's more like - "wow - look at that train wreck."
We'll see who laughs last here.
I want you to practice typing the following OF -
"It's all speculation."Because in very short order, that's all you're going to be able to argue. All the facts are on my side.
Your only hope is a murderous depression around the world - you got a respite for 6 months.
Respite is OVER. For now. Pray for another one.
Prices now ratcheting back up.
Say it with me OF - "It's all speculation." It's all you've got.
It may turn out that from September 08 to June 09 was the aberration.
Start a Schmuto index.
It should start in about 05. I said then that prices will be on a ramp up until the oil is gone. I bet my own money at about 65. Did quite well.
The only flaw in that so far was a 6 month drop in prices.
You can take that to mean whatever you want.
I take it to mean one or more of the following:
1. Rapid and deep recession set in.
2. Price climbed too quickly (speculation involved).
The price spike we're seeing now is no "dead cat bounce."
Finally as for your quote that "OPEC has raised production."
I'm sorry, was that over the adjusted production from last month? Was that the adjusted production from this month? Was that yoy?
Give it a few months before you make that call.
Problem with those numbers is this.
month 1 - they say they produced 100.
Headlines "production up to 100!"
later in month 1 - quietly revised to 85.
month 2 - they say they produced 95.
Headlines "production up more than 10%."
later in month - quietly revised to 84.
month 3 - they say they produced 98!!!!
AND SO ON.
You want to know how much they're producing?
Look at price.
Dr. O = Schmuto/cashmere and who knows how many others. Case closed.