Oil Is Now Short Material.
Ok price is now at the area that will likely hold it for quite some time. It did before and there is no reason to believe that it won't again. Don''t expect a fast move down but this is the area that you want to see clearly as a short as you can see from my chart below. I took 5 contracts (10 to start) and will look for the market to move down over the next few weeks to months. Sure you might see 55 or 57 a barrel but as I mentioned before this is NOT the area to be looking for any sort of surge higher even if we do end up getting some sort of financial crisis. If anything an event such as that would push oil probably to 10 dollars a barrel versus 100 a barrel.
This is the extreme condition that I was telling you about. You simply have to wait for it. It requires a lot of patience. It is important to note that when oil blew up to 147 a barrel or even 113 a barrel it was because commodities in general were in a boom because the Dollar was collapsing at the time and had been for a number of years. Oil is not the energy of the future and anyone telling you that it has a long life yet is not informed. Both oil and the world are undergoing vast technological changes at the moment and this will trickle into every area. Oil will become a relic at some point in the not too distant future likely measured in about 15 years or less. Peak oil will be simply a thing of the past and like every other dinosaur it will be forgotten over time.
Energy abundance like every other form of abundance is possible. It already is if you can get the power mongers and their greedy cronies out of the way. Not an easy task. They like their lavish lifestyles and in truth who can blame them. Some of them have worked very hard over the years to get what they have. However having too much is NOT a good thing. I like to see people enjoy themselves but to see people dying for no reason other than greed is simply wrong. The bigger picture (as I have mentioned many times before) is the opportunity cost that goes with it.
For example in the daily deaths of millions did we lose the next Einstein in that group?
It is a good question isn't it?
Sadly we'll never know.
Anyway back to oil. As I mentioned this week we should be looking short. This is as good an area as any and that is what I have done. (so far a very quick 40 ticks) Cheers!
This is the extreme condition that I was telling you about. You simply have to wait for it. It requires a lot of patience. It is important to note that when oil blew up to 147 a barrel or even 113 a barrel it was because commodities in general were in a boom because the Dollar was collapsing at the time and had been for a number of years. Oil is not the energy of the future and anyone telling you that it has a long life yet is not informed. Both oil and the world are undergoing vast technological changes at the moment and this will trickle into every area. Oil will become a relic at some point in the not too distant future likely measured in about 15 years or less. Peak oil will be simply a thing of the past and like every other dinosaur it will be forgotten over time.
Energy abundance like every other form of abundance is possible. It already is if you can get the power mongers and their greedy cronies out of the way. Not an easy task. They like their lavish lifestyles and in truth who can blame them. Some of them have worked very hard over the years to get what they have. However having too much is NOT a good thing. I like to see people enjoy themselves but to see people dying for no reason other than greed is simply wrong. The bigger picture (as I have mentioned many times before) is the opportunity cost that goes with it.
For example in the daily deaths of millions did we lose the next Einstein in that group?
It is a good question isn't it?
Sadly we'll never know.
Anyway back to oil. As I mentioned this week we should be looking short. This is as good an area as any and that is what I have done. (so far a very quick 40 ticks) Cheers!
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