It's going to happpen sometime soon. Real estate came down, didn't it. If gas is $12 a gallon, who is going to buy?
"investors were shifting their focus from the short-term to the medium-term, where supply fears played a bigger role". Enjoy $4.00 gas while you can.
This article talks about $12/gallon for gas and rationing.
http://www.cnbc.com/id/24725305
-- Modified on 5/20/2008 9:05:43 PM
It's going to happpen sometime soon. Real estate came down, didn't it. If gas is $12 a gallon, who is going to buy?
If it is so easy to predict the top of a putative speculative bubble such as the oil market, why is it that you're still posting on a hobbying site?
You would instead be playing "Charley Potatoes", living the high-life.
-- Modified on 5/20/2008 10:02:45 PM
to invest in oil for the last two years and I'm still posting on a hobbying site, but your point about picking a market top, in any market is well taken.
Most of the people who were later proven right about the dot com bubble were trampled by the irrationally exuberant traders who also went broke when the market eventually tanked. Unfortunately being right is not always enough, especially when you are right too early.
I don't know about playing "Charley Potatoes", but don't expect to hear much out of me for the next few days, I'm off to Costa Rica for a long weekend to spend my ill gotten gains. I wonder what the poor people will be doing? lol