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starbucks4ever (97.86)

The game is up for Iran - and for the peak oil scare

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June 11, 2009 – Comments (6)

As Philip of Macedon famously stated, any fortress can be taken if only a little donkey laden with gold can make his way up to it. Obama has obviously taken his clue from Philip, and Mousavi is now making his way up to the Iranian fortress. The capitulation date is tomorrow. How is this relevant to the market's tug-of-war between bulls and bears? The removal of the old guard - and the war premium baked in the oil price - is going to take away the speculators' excuse for pumping up the price of crude that is now overflowing the storage tanks for the lack of buyers. The oil market is long overdue for a correction. And it's starting as early as tomorrow.

6 Comments – Post Your Own

#1) On June 11, 2009 at 1:43 PM, abitare (61.26) wrote:

Good call...maybe

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#2) On June 11, 2009 at 1:57 PM, jesusfreakinco (29.02) wrote:

We'll see.  What makes you so confident in tomorrow.  Do tell...

 

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#3) On June 11, 2009 at 4:31 PM, RookieQB (29.19) wrote:

Oil has been on a tear lately hasn't it...

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#4) On June 11, 2009 at 4:36 PM, mrshakes (< 20) wrote:

No matter how far into the future you go, tomorrow actually never gets here, does it?

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#5) On June 12, 2009 at 1:30 AM, ralphmachio (29.37) wrote:

How will this affect my UNG, FAZ?  Doesn't UNG follow oil to some degree? Isn't Oil popped up because 'the economy is recovering' (or has achieved terminal velocity), and won't it's decline indicate a declining economy?  

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#6) On June 12, 2009 at 1:34 AM, starbucks4ever (97.86) wrote:

ralphmachio,

my personal opinion, which you are free to agree or disagree with, is that oil's rises and declines indicate nothing but the mood of speculators. 

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