Crude Oil

[tricha]

That 'article' is from Resource Investor, another Kitco clone doom and gloom gold peddling website. Its views should be taken at face value.

Shasta, I share your belief that there are no ASX oil companies that represent good value at the moment, almost all of them disappoint come quarterly production report time. Why rush to buy anyway since there is a very high chance the oil price will drop significantly by the EOY - then it will be time to buy a few well chosen oil/gas companies.

Well, Well, Well reality set in I see

[yogi-in-oz]

I was staying on the sidelines to buy oil companies cheaper by the EOY but with the price spike have started shorting oil co's today.

..... is this guy really serious about shorting the oilers, Tricha ... ???

have a great day

paul



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[Mick100]

[quote=Mick100;167752][quote=Mick100;166946]Commercial (hedgers) net shorts positions

price
7/08/07 net short 117500 71.50
14/08/07 net short 85700 72.00
21/08/07 net short 42600 71.00
28/08/07 net short 25000 74.00
4/09/07 net short 34500 77.00
11/09/07 net short 36000 77.50
18/09/07 net short 44500 81.00
25/09/07 net short 45300 79.50

2/10/07 net short 59500 80.00
9/10/07 net short 66000 80.26
16/10/07 net short 78000 87.61

open interest 1,489,300

commercials added 41000 shorts and added 29000 longs for a net increase in shorts of 12000 for the week
crude price up 9% for the week

I was expecting a big increase in net shorts this week as the commercials usually pile on the shorts on price spikes. It looks different this time - maybe the commercials don't think this increase in price is just a spike as I had been thinking. Looks as though it's going to go past $90 at this stage.

[the machine]

am pretty glad are overweight in oil @ about 65% of portfolio

M

[yogi-in-oz]

Warning: Astrostuff ahead .....

Hi folks,

Crude price will likely see some hefty rises soon, particularly
between 24102007 and 09112007, where some expansive
time cycles (Jupiter/Neptune) come into play.

In particular, we'll be alert around 30102007, when a hike
in oil prices may also be accompanied by some negative
news in currency markets, as well (???)

Longer term outlook ... if you think oil prices are high now,
just wait until May and December 2009 ... !~!

have a great day

paul



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..... looking good ... !~!

happy days

paul




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[the machine]

turkey shelling iraq kurds , kidnapping in nigeria, algerian oil minister saying oil price will rise above usd$90 - all add up to another week of high oil prices.

M

[Mick100]

[quote=Mick100;169708][quote=Mick100;167752][quote=Mick100;166946]Commercial (hedgers) net shorts positions

price
7/08/07 net short 117500 71.50
14/08/07 net short 85700 72.00
21/08/07 net short 42600 71.00
28/08/07 net short 25000 74.00
4/09/07 net short 34500 77.00
11/09/07 net short 36000 77.50
18/09/07 net short 44500 81.00
25/09/07 net short 45300 79.50

2/10/07 net short 59500 80.00
9/10/07 net short 66000 80.26
16/10/07 net short 78000 87.61
23/10/07 net short 60000 85.27

open interest 1,408,000

commercials reduced shorts by 71000 and reduced longs by 53000 for a reduction in net short of 12000 for the week

To see commercials reducing net shorts at this level of price is very bullish, IMO - looks like oil is going to at least $95 in the short term - probably $100

[shane_m]

As of last Friday all my stocks are oil producers. Trend is clear, I am only focusing on more oil stocks from now on.

[shasta]

As of last Friday all my stocks are oil producers. Trend is clear, I am only focusing on more oil stocks from now on.

Just out of interest Shane, what are you holding?

[shane_m]

Shasta

PETSEC ENERGY LIMITED (PSA)
AMADEUS ENERGY LIMITED (AMU)
STRIKE OIL LIMITED (STX)
PRYME OIL & GAS LIMITED (PYM)

and WPL, should have got in to this one when sniper indicated few years back, with company production set to 3X in 2012, I got in at 40.

was in NZO from 85x, just waiting for oil spill sorted out for re entry.