It's official: The Oil Boom Is Over

[Dawg52]

Golf at 6:00am, beer at 11:00am, then a nap............

I played in a golf outing recently with a good ole boy from Thibodeaux, Louisiana. He thought our 85 degree day with a 70 dewpoint was "mahvelous"................

I bet he did. When the time comes and I'm no longer looking after good ole Mom, I plan to travel up north during August. Find a place to perch and just enjoy some decent weather. BTW, no desire for 6:00am golf. I'm in for the 11:00am beer and nap though.

On an unrelated matter, I traveled to Orange Beach, AL over the weekend to hear Willie Nelson and BB King in concert. BB is 82 years old but can still play, sing and tell stories. I believe Willie is in his early 70's but he sounded just the way he did 30 years ago. Nice outdoor concert with a decent Gulf breeze keeping us cool. And I didn't have Monday morning work hanging over my head. ER life is good.

 

[FinanceDude]

I bet he did. When the time comes and I'm no longer looking after good ole Mom, I plan to travel up north during August. Find a place to perch and just enjoy some decent weather. BTW, no desire for 6:00am golf. I'm in for the 11:00am beer and nap though.

Wisconsin is lovely this time of year, usually low to mid 70's if you are on the Lake Michigan, hotter inland (up to 10 degrees hotter)..........

 

[Leonidas]

Oil down to less than $122, USO down below 98. I heard rumors they are going to start building a statue of me in our town square...

I'm ever so grateful. Especially in light of the fact that last week I changed my mind about buying the USO and bought a small bit of some DUG instead. So, my gas is cheaper and I reaped a little profit shorting oil at the same time. Muchisimas Gracias

 

[ziggy29]

I'm ever so grateful. Especially in light of the fact that last week I changed my mind about buying the USO and bought a small bit of some DUG instead. So, my gas is cheaper and I reaped a little profit shorting oil at the same time. Muchisimas Gracias

Just as no one ever got fired for choosing IBM, no one ever went broke by looking at my market moves and doing the opposite.

 

[CitricAcid]

Boom, goodbye inventories, hello prices! I think this goes along with my post (#120) about the inventories/pricing chicken/egg situation. Ziggy, you overestimate your powers!

USO at $102.37, September oil up $4.58 at $126.77

 

[Dawg52]

Nah, just a dead cat bounce. But by all means, by some more.

 

[statsman]

A fairly rare event these days to have the market bounce up when oil prices also rise by a steep amount (+$5/barrel).

 

[clifp]

$4.19 in paradise. Gas prices in Hawaii always rise a bit slower than the rest of the country, and decline at glacier like speed. Although, I do get a kick out of our prices often being cheaper than California.

 

[cute fuzzy bunny]

Yeah, but the exhaust coming out of our cars smells as sweet as a flower, while Hawaiian exhaust smells like old surfboards and spam.

 

[cute fuzzy bunny]

Oil market caught in bullish-geopolitical, bearish-economy tug-of-war - BloggingStocks

"From a trading perspective, this market is as risky as it has been in about two years, which means you can lose money in a hurry, and that's for professionals," Dietz said.

Obviously we should steer clear of these professional money losers.

"We have a saying in the oil market when the data says the market is divided that goes 'don't just do something, stand there.' That's how things are right now."

I didnt know Bogle was an oil trader.

 

[CitricAcid]

Thought I would bump again with a comment about USO at $95.48 and oil at $119. That's about a 17% drop since ziggy's purchase, sorry to bring it up.

 

[cute fuzzy bunny]

Oils going to $70-80 a barrel. Dollars going to pick up a little steam too.

Just remember you read it here first...

 

[audreyh1]

Wow - oil at $118 and change!

Looks like ziggy did indeed nail the top (at least for the time being).

Audrey

 

[ziggy29]

Wow - oil at $118 and change!

Looks like ziggy did indeed nail the top (at least for the time being).

Make it $116.

Am I good or what?

 

[Notmuchlonger]

Wonder if it goes below 100 anytime soon..

Good job ziggy

 

[Bestwifeever]

Ziggy maybe you could invest in euros next and help out the old greenback?

 

[ziggy29]

Ziggy maybe you could invest in euros next and help out the old greenback?

The greenback hasn't needed any help since late June. About the time I bought USO was also when the dollar started to strengthen. In fact, I'm reminded of that whenever the U.S. market is up 3% but I'm only up 1% because oil, gold and foreign stocks are in the tank.

 

[Bestwifeever]

So basically we could say you are also indirectly responsible for the dollar getting stronger; your power never ends!

 

[soupcxan]

Ziggy, you're doing a heckuva' job!

 

[Leonidas]

Ziggy, you're doing a heckuva' job!

I'll say, I filled up my truck today and for the first time in weeks it was full before it reached the $75 cutoff. Put a smile on my face. But not as much as 18% up in DUG since I bought. Anybody else think oil is going to trip further? http://www.early-retirement.org/forums/f44/dug-37809.html

 

[d]

leonidas: you ought to follow ziggy's lead and help the rest of us ... stop being so self-centered.

 

[ziggy29]

Any other questions?

 

[REWahoo]

Any other questions?

I see you're fishing for a compliment...

OK, thanks for a job well done. Please sell now and save up so you can step in again when needed.

 

[Dawg52]

Talking heads says $100 is near. How low will it go? BTW, markets doing well as a result.

 

[Leonidas]

leonidas: you ought to follow ziggy's lead and help the rest of us ... stop being so self-centered.

I'm so ashamed . I tried, really, honestly...I even sold my DUG. But, then I got greedy again and bought twice as much in DTO. Up almost 12% now.

Any other questions?

Can I buy you a beer next time I'm in the Hill Country? You deserve something for your valiant and patriotic sacrifice.