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Old 05-28-2009, 02:29 PM   Nav to Top  #1
ToTheMoon
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Default Short Term Oil Prices

Hey guys - I'm looking at taking some profits on my OPC but I'm having trouble pulling the trigger as the price of oil keeps rising. Where do you all see oil going over the next month or two? Are we in for a drop-off after this $10 jump in May? Or will the momentum continue for awhile?
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Old 05-28-2009, 05:24 PM   Nav to Top  #2
Kordoyn
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Hard to tell. Opec wants oil to be around $70-75. I wouldn't be surprised if it hit that in july/aug. But as with many things these days, oil no longer trades on supply and demand functions, it's mostly a political game with a whole lot of speculation thrown in.
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Old 05-28-2009, 06:39 PM   Nav to Top  #3
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Yeah, I'm waiting for oil to hit $75 Then I'm going to sell out gains after OPEC makes their first announcement that they are going to begin to ramp up output.

Fairly safe bet that way, I just can't see oil taking another big dive, especially with the summer coming shortly.

I could be wrong though, lol.
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Old 05-29-2009, 06:14 AM   Nav to Top  #4
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From what I understand is that higher oil prices actually hurt opti somewhat. They have hedges at $70 and so when oil moves higher it also helps the cnd$ move higher which hurts their currency hedge.

Watch what Lattes does with the stock, he and AdamJ are the gurus on this one.
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Old 06-22-2009, 11:12 AM   Nav to Top  #5
mrdbldub
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If you live in Canada open a tax free savings account then buy an oil e.t.f. inside your t.f.s.a. and do not look at the price of oil until 2010 if the analysts are right oil should be trading in the $90.00 to $100.00 range then you will have a tidy sum saved up. Take out as much $$ as you want and you will still qualify to contribute another $5000.00 in 2010 plus put back the amount you took out, all tax free.
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Old 06-22-2009, 12:26 PM   Nav to Top  #6
Miles
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I agree with mrdb. Oil/gas is such a good play at these levels. Save your opc, and if anything start looking at beaten down oil sands stocks like BCF.TO.
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Old 06-02-2014, 05:33 PM   Nav to Top  #7
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I can't see oil price coming down to sharply with the summer season in affect. I am expecting a peak of $105 and by fall to slide to $101. considering global demand
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