Smoking what? :burnin: is apparently modern medicine.
Mike, I really think that if people donât know you personally, they take some of what you post differently than those of us that have the pleasure(?) of knowing you 
I am glad you mentioned that.
Unless I take the time to s-p-e-l-l everything out people make all sorts of wacky assumptions.
It is probably my fault that I donât take the time to do it.
Oh well.
If I were short like you it would not have been an issue.
^Ok smart ass, whipper snapper back on topicâŚ
136.38
predictions?
Several oil effecting reports are due out today. All depends on what they say.
http://www.forbes.com/markets/2008/07/16/oil-jpmorgan-ebay-markets-cx_cw_0716transclose.html
A lot of the drop was attributed to speculation that the downturn in the economy was going to greatly decrease our demand.
If a lot of those earnings reports look good expect oil to rebound along with them.
^But maybe their earnings were poor.
j/k itâs oil.
Speaking of energyâŚ
I just went to the Pizza Hut for lunch and there was a sign stating that there will be no chicken wing pizza in the buffet because the chicken was too expensive.:lol:
Why am I posting this in an energy related thread?
I am guessing the chicken eat corn and the corn is now being used for ethanol which drove up the price to feed chickens.
I remember when chicken was the cheap meat.:biglaugh:
I donât know why I am laughing.
because you are not poor and you can afford the chicken anyway
$131.22
Itâs all over the place right now. Lets see where it settles.
The rest of the market is on a rally right now too.
One problem. The average bear market is 18 months and weâre at about 8-10 into the cycle. Iâd like to say weâve seen the worst but I have my doubts.
today has certainly been a rollercoaster ride
Maybe this tooâŚ
July 15, 2008: President Bush rescinds Executive Order banning offshore drilling.
Price of oil at close on July 14 â $145.18.
Price of oil at close on July 16 â $134.60.
Not likely. Drilling = long term. Yes, itâs part of the solution, but even if Congress would have joined Bush and said âlets start drilling todayâ, which they didnât, new oil is 5 years out. The possibility of some new oil 5 years from now doesnât change the market $11 in 2 days.
The price dropped because our supplies are up (oil, gas and distilates), tension with Iran are down, and with the bleak economic outlook they expect US demand to drop.
That last one has me on edge. All this doomsday stuff came from Freddie/Fannie and IndyMac. Freddie/Fannie had all that trouble because some jackass leaked a government report showing the government was making plans in case Freddie/Fannie went bust. Everyone panicked and read that as âFreddie/Fannie are going to go bustâ, and all the lemmings jumped off the cliff. Now people are realizing that making these plans is what responsible governments do, even when they donât think itâs likely to happen. Freddie and Fannie stock is coming back as the lemmings that survived the fall climb back up the cliff.
IndyMacâs crash was one part getting sucked into the bank panic, and it would appear from the FBI investigation, one part internal fraud.
So if the market really isnât that bad, how long before the speculators jump back into oil when they speculate our demand isnât going to drop that much?
what about the issue with the Euro ?? and how they now have to pay with that