The Oil Conspiracy Theory
Far be it for me to ponder conspiracy theories, but here is one.
A recent report from the Energy Department shows that crude inventories rose higher than expected, driving down the price of oil further. OPEC meanwhile is looking to cut production by 1 million barrels to offset the excess supply.
I would not be surpsied if the Bush administration might have played a big part in driving oil prices higher earlier this year by creating false demand. Why? Because excess oil inventory gives them an advantage over Iran should the US decide to file sanctions against them. This way, they not only sneaked-in the price increase before the event (sanctions) took place, but also avoided public outcry over the potential increase in prices that would have occured if inventories were low and Iran was cut off.
– Faisal Laljee
Hydril-HYDL has bounced 16% off
the $49 low set 10 trading
days ago. whats next?
I would like some short sugguestions in case the indexes correct for a few weeks. the 7 posted below have risen alot in the past 1-2 months and look like they peaked and started down only about $1. DRI GME ANGO PNRA ANF TGT WFMI.
i think they might be promising short canidates. have any?
Thoughts on profit takings WFMI?
Thoughts on where to dip buy Home Depot, if at all?
I don’t tend to short too much, but I like AMZN as a short play. You might consider simply selling small amounts of gainers like WFMI, TGT and GME stock into strength to book profits but this rally has been strong and the reversal on Tues was encouraging.
– Faisal Laljee