Put $15,000 into an oil ETF yesterday

[bran987]

Figure this is the midpoint of some crazy nasty spikes... reminds me of the middle of tech in 90's and real estate in '05... so I'll ride it for a few see how it goes... oil companies are still only trading around 11x earnings... lots of room to run to bubble status IMO.

whatcha guys think? setting myself up to lose a bit or riding the wave for awhile?

 

[bran987]

wow I'm losing my ass on this deal already (ICX is the fund).

bought at 161 now it's down to 153

 

[75th]

I personally wouldnt go near oil unless I was shorting it.

Of course, I said that back when it was $120, so what do I know.

If I were to be bullish on anything right now it would be the dollar.

 

[chrisproia]

haha I might not know much about the market, but with our national debt, the dollar is looking nowhere but down.

 

[75th]

haha I might not know much about the market, but with our national debt, the dollar is looking nowhere but down.

It cant and wont go much lower, so if you have some time on your side itll work out fine.

Especially since the ECB just raised rates .25%, our Fed will follow suit soon I believe.

 

[Megalomaniac]

It cant and wont go much lower, so if you have some time on your side itll work out fine.

Especially since the ECB just raised rates .25%, our Fed will follow suit soon I believe.

You are right on here. Oil will remain at 150 for the next 3 years with spikes both directions. The economy is going to suffer and we are going to start to see the oil prices affect everything else. Unemployment is going to rise a little but the feds will do their best to keep it under control for the next 18 months before it really starts to move anywhere.

If you want to take a gamble then find out what company obama is in bed with when it comes to green issues. There will be a lot of govt money going to that field in about 24 months and some companies will kill.( not all so that is the gamble, which ones will make it and which ones will fail) The next big money to be made will be in the green fields. Govt's all over will be having to throw money at that field.

IMHO of course.

 

[Powerlifting57]

just ride it oil price rise and fall like the sun. My oil wells are doing just fine...

 

[SpyWizard]

You are right on here. Oil will remain at 150 for the next 3 years with spikes both directions. The economy is going to suffer and we are going to start to see the oil prices affect everything else. Unemployment is going to rise a little but the feds will do their best to keep it under control for the next 18 months before it really starts to move anywhere.

If you want to take a gamble then find out what company obama is in bed with when it comes to green issues. There will be a lot of govt money going to that field in about 24 months and some companies will kill.( not all so that is the gamble, which ones will make it and which ones will fail) The next big money to be made will be in the green fields. Govt's all over will be having to throw money at that field.

IMHO of course.

$96 per today..

 

[Razorguns]

"Economies just don't go down".

Wealth just gets transferred. Find out where it's going and invest there. Hint: It's outside the US. My 5-year plan is making millions entertaining americans AND foreigners. Dwelling on doom is what people destined for poverty do.

r