Followme, hasn't oil found a base well above $100? Currently 115, hardly cheap. It appears that oil will head back to new highs by the year’s end (let's see if I’m wrong). The Hurricane season will help this also. 85 million barrels per day is the limit that the whole planet can produce. Demand rises by almost 2% per year. No new major oil fields found in over 30 years! Current price is a normal market correction in a bull market.
Price goes up, demand destruction occurs, price falls down a bit but stable at a new high (where we are now, around 110). As demand resumes price goes up, and the cycle continues. Anyone who thinks oil will go back to 80 is smoking crack, IMHO. In the recessions of the '90s, oil went up 10 times in price. Now we have another 3 billion people in the game and the US with 300% of GDY in debts, who are printing the dollar faster than they can grow the trees. Please sell your BHP, so I might buy them with a 3 in front.
Guess it really comes down to whether you believe in 'Peak Oil' or the Saudi's totally bogus production capacity claims. Does anyone really believe the garbage from them anymore? If they truthfully want oil back at 60 and they have the productive capacity that they claim, than flood the market and burn all the traders and hot money, whom they claim is responsible for the high prices. Why don't they? Because they can't and they have been pumping water into the wells and using doggie statistical models to make their reserve claims.
We haven’t even seen the beginning of the next wave in commodity prices. Hold me to it; I’ll be happy to wear egg on my face if I’m wrong. Let’s talk in another year when oils 150 and cheap, sugar is 20, cotton is 100+, etc etc. Let’s see if I’m wrong. So irrational markets provide great opportunities to profit. If BHP goes down friends, buy more of the fools who sold it. Simple really.
- Forums
- ASX - By Stock
- BHP
- wall at 40
wall at 40, page-121
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BHP (ASX) to my watchlist
(20min delay)
|
|||||
Last
$44.01 |
Change
0.210(0.48%) |
Mkt cap ! $223.3B |
Open | High | Low | Value | Volume |
$44.37 | $44.39 | $44.01 | $263.3M | 5.969M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 2432 | $44.01 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$44.10 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 2432 | 44.010 |
71 | 6567 | 44.000 |
3 | 904 | 43.980 |
1 | 8505 | 43.950 |
2 | 1746 | 43.930 |
Price($) | Vol. | No. |
---|---|---|
44.100 | 100 | 1 |
44.120 | 1395 | 1 |
44.150 | 5 | 1 |
44.190 | 8505 | 2 |
44.200 | 33400 | 4 |
Last trade - 16.10pm 15/10/2024 (20 minute delay) ? |
Featured News
BHP (ASX) Chart |
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online