$140 Oil going to $170

[tivoboy]

I've been buying DUG since July, now up another 10% today.

Paid for my new smartie in two months! :-)

[nprsmart]

Originally Posted by jwight

Oil dipped below $104 a barrel briefly today, so those analysts may be right. What's worrying is, as oil prices have dropped, you can almost feel the momentum to conserve and develop alternative energy sources dropping also. This has the potential to play out the way things did in the 1980s and 90s after the oil embargo of the 70s.

At the risk of sounding political and getting my wrist slapped, the price of oil today just doesn't matter. What DOES matter is that we are sending $700 billion dollars a year overseas to folks who want us dead. We need to stop that by using every means at our disposal...wind, nuclear, hydro, and domestic gas & oil. Maybe I'm a tad sensitive since my youngest is half a world away and a lot closer to those wackos that we are.

Besides, when the price of gas drops, I'm STILL saving a bundle over what it's costing the folks with Excursions and Tahoes to go the same distance.

Now that I've got my hitch installed, I can carry my bike without having to fire up my 14mpg pickup truck.

[theguywiththelongestname]

now oil is going @ $70 ...think we'll see $50?

[jefferios]

Its amazing no matter what the price per gallon is, people still ask me and are surprised about my mileage.

[24-42]

Originally Posted by tivoboy

I've been buying DUG since July, now up another 10% today.

Paid for my new smartie in two months! :-)

Pardon: What's "DUG" ?

[paroyboy]

UltraShort Oil & Gas ProShares (DUG)

[tivoboy]

Yes, DUG is the ultrashort ETF from Proshares that tracks the REVERSE of oil, or double the inverse of oil. Oil DOWN, DUG up, usually about 1.9x. Since the buy in in July, it is up 100%. I cashed out late last week of the entire position. I think we will see lower oil, almost for certain, but it isn't as clear a buy as it was at 140$,

or 120$,
or 110$

or 95$
or 90$ even.

[xcrew229x]

Anybody think oil won't go back up? See how short memories are if oil stays down a bit. Can you say pickup truck?

[vwW12]

Originally Posted by tivoboy

I've been buying DUG since July, now up another 10% today.

Paid for my new smartie in two months! :-)

TivoBoy, good for you and cheers!

Funny how politicians manipulate the public to blame "evil" equity short traders, yet I've never heard a politico criticize an oil commodity short trader.


Buyers of hybrid cars not looking good at this time... once again, they have to run their cars for hundreds of thousands of miles before they start to recoup their investments.

At one point, they merely had to run about 120,000 miles to break even vs. buying a regular car.

[SuperGeek]

Originally Posted by vwW12

At one point, they merely had to run about 120,000 miles to break even vs. buying a regular car.

Yup. Smart Passion vs. full electric Chevy Volt (never using gas) - the Volt would have to travel 250,000 miles to justify the extra cost. Oil went down too fast, too soon... I hate to say that, but now we don't have as much sense of urgency to develop the greener solutions. Someone's gonna have to shell out 300,000 miles of investment in order to further the technology so the common person can afford it and we don't get ourselves in this mess all over again. Sounds like a job for government, as they don't need a sub 10 year ROI.