Oil bubble may have burst

SUBMAN1 · 08-08-08, 11:45 AM

http://www.telegraph.co.uk/opinion/m.../08/do0801.xml

Lets see if this holds true.

-S

Quote:

Bad news from the Baku-Tbilisi-Ceyhan pipeline - an installation that may not normally draw much of your attention, but which is a throbbing artery of global energy supply, carrying vital oil supplies from Central Asia towards a tanker terminal on the Turkish coast. On some remote, sun-baked plain of Anatolia, an explosion sparked a fire earlier this week, temporarily cutting the flow through the pipeline.

But guess what? Here's the good news: the oil price did not zoom upwards in response, not a blip, barely a flicker. Actually the price of a barrel of crude has been falling: from a peak of $145 in early July, it came down to $117 and was trading yesterday at $120. That's almost a 20 per cent drop in little more than three weeks....

Type941 · 08-08-08, 03:47 PM

yeah, a friend of mine gone short on it at 135, he is VERY happy camper now.

all equitey houses have been saying this for a while, the OPEC said all along that it's a bubble and no need to raise demand, so it's not surprising. Timing wise actually in line with what I expected myself. good stuff.

SUBMAN1 · 08-08-08, 03:51 PM

Quote:

Originally Posted by Type941

yeah, a friend of mine gone short on it at 135, he is VERY happy camper now.

all equitey houses have been saying this for a while, the OPEC said all along that it's a bubble and no need to raise demand, so it's not surprising. Timing wise actually in line with what I expected myself. good stuff.

How much did he make? What did he buy in at?

-S

Type941 · 08-09-08, 03:11 AM

at 135, so it's down to 115 now, which is quite good. In amounts? quite much, in 6 figures.

August · 08-09-08, 09:41 AM

I must be misunderstanding this. He bought when it was at $135 and sold now that it's down to $115?

SUBMAN1 · 08-09-08, 09:44 AM

Quote:

Originally Posted by August

I must be misunderstanding this. He bought when it was at $135 and sold now that it's down to $115?

Me too. I am not understanding!

-S

UnderseaLcpl · 08-09-08, 09:57 AM

I'm assuming he bought at 135, waited until it peaked at, (what was it, 145 or 150?) and then sold just before it dropped.

Just a miscommunication.

SUBMAN1 · 08-09-08, 10:04 AM

Quote:

Originally Posted by UnderseaLcpl

I'm assuming he bought at 135, waited until it peaked at, (what was it, 145 or 150?) and then sold just before it dropped.

Just a miscommunication.

Don't think so. There is also a way to make money on the fall of a stock, which is what I think he means by going in short.

-S

08-08-08, 03:47 PM	#2
Type941 Ace of the Deep Join Date: May 2005 Location: U-52 Posts: 1,270 Downloads: 2 Uploads: 0	yeah, a friend of mine gone short on it at 135, he is VERY happy camper now. all equitey houses have been saying this for a while, the OPEC said all along that it's a bubble and no need to raise demand, so it's not surprising. Timing wise actually in line with what I expected myself. good stuff. __________________ Sink the Bismarck SH3 Movie

08-09-08, 03:11 AM	#4
Type941 Ace of the Deep Join Date: May 2005 Location: U-52 Posts: 1,270 Downloads: 2 Uploads: 0	at 135, so it's down to 115 now, which is quite good. In amounts? quite much, in 6 figures. __________________ Sink the Bismarck SH3 Movie

08-09-08, 09:41 AM	#5
August Wayfaring Stranger Join Date: Apr 2005 Location: Massachusetts Posts: 23,197 Downloads: 0 Uploads: 0	I must be misunderstanding this. He bought when it was at $135 and sold now that it's down to $115? __________________ Flanked by life and the funeral pyre. Putting on a show for you to see.

08-09-08, 09:57 AM	#7
UnderseaLcpl Silent Hunter Join Date: May 2008 Location: Storming the beaches! Posts: 4,254 Downloads: 0 Uploads: 0	I'm assuming he bought at 135, waited until it peaked at, (what was it, 145 or 150?) and then sold just before it dropped. Just a miscommunication. __________________ I stole this sig from Task Force