Good Luck entropylord, hope you make a mint.
There is no demand for oil between $60-$57, so it's going lower. Unless I see demand increase or supplies interupted from somwhere [strike on Iran for instance], I wouldn't necessarily put my house on oil untill the picture changes. I think it's finished!
We will get a clearer picture in a months time as the cold weather freezes over USA and EU, however, yesterdays oil rally on NYMEX was a short-covering rally, it wasn't based on "fundamentals"...in fact stock piles are increasing and consumers are being conservative in their approach. I don't see demand picking up to end this 3 month downtrend any time soon, or, for at least another 4 weeks. Selling pressure is likely to continue.
A rally to $60 is likely, traders and investors should look at this price level imo and a failure to move above it should really consider exiting all oil holdings and move it into something else. I am waiting for HDR rampers to spruik their datribe when oil continues to collapse after this breif counter trend rally.
- Forums
- ASX - By Stock
- HDR
- mputa 1--what incremental value?
HDR
hardman resources limited
mputa 1--what incremental value?, page-56
-
- There are more pages in this discussion • 2 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 HDR (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online