Any crude oil sharps out there?

[bigboydan]

I see BetCris is offering prop wagering on the price of crude oil right now.

WILL OIL CREEP ABOVE $95 A BARREL IN 2007
10 /24 /077:00 AM

OVER $ 95 OIL BARREL +100

UNDER $ 95 OIL BARREL -150

I for one don't see the price of crude oil going over 95 a barrel, because we are way too close to election time.

[curious]

I see BetCris is offering prop wagering on the price of crude oil right now.

WILL OIL CREEP ABOVE $95 A BARREL IN 2007
10 /24 /077:00 AM

OVER $ 95 OIL BARREL +100

UNDER $ 95 OIL BARREL -150

I for one don't see the price of crude oil going over 95 a barrel, because we are way too close to election time.

There is going to be a huge political upheaval in Saudi Arabia, probably before the end of the year. The smart money is reacting to that which is why the price is going up on no news. Oil could easily go above $100 a bbl. If the Saud family gets threatened with exile or execution they have threatened to blow up all the oil wells. The wells are already set with explosives, they did that years ago.

[Dark Horse]

OVER. The rising oil price reflects the declining dollar. In other words, if your currency is the euro, you don't feel this rising price. The Fed is almost certain to cut the interest rate again later this month, which will weaken the dollar more, and sent the oil price higher.

[curious]

OVER. The rising oil price reflects the declining dollar. In other words, if your currency is the euro, you don't feel this rising price. The Fed is almost certain to cut the interest rate again later this month, which will weaken the dollar more, and sent the oil price higher.

The Iranians are trying to get oil pegged to the euro instead of the dollar. Which is why there is all the saber rattling by Bush the Lesser towards them.

[Dark Horse]

That is probably about 100% correct.

[tacomax]

I for one don't see the price of crude oil going over 95 a barrel, because we are way too close to election time.

Doesn't matter if the election is tomorrow, the government can't realistically dictate the short-term price of oil to any great degree. All you need is a bit of tension in the middle east which looks to affect the supply (like what happened this week with Turkey/Iraq) and that price will shoot up.

[ShamsWoof10]

I can honestly say there is not one day I can think of in the last 5 years where I did not look at Oil throughout the day... I have played some Oil options.. I am no expert but my friends give me props for calling $100 oil when it was $25.. It's going to get near $150 within the next few year but not this year...

There has been a nice run up and when it corrects $95 will not be so close... Let's say it corrects down to $78... There is not much time left in the year to bring it back up barring a MAJOR INCIDENT... This is a lock UNDER in my opinion due to the time frame...

[Wheell]

Dark Horse: You are absolutely correct that this is a dollar problem much more than it is an oil problem. The Euro as well as most other currencies have seen only a modest increase in the price of oil.

[ShamsWoof10]

You know what..??? THIS IS A LOCK!!! I forgot to mention something and that is the further months out are LESS then spot price meaning when the next month is the front month the price will drop automatically..

THE FRONT MONTH is $88.59
THE NEXT MONTH is $87.01

[ShamsWoof10]

I was going to POUND the UNDER but the limit is only $100.. Damn talk about small potatoes... Why even have it up...

[bigboydan]

I was going to POUND the UNDER but the limit is only $100.. Damn talk about small potatoes... Why even have it up...

I caught that limit myself Shamswoof. That I thought was to be expected though, but it's still a free $100 if you think it's virtually a lock.

[mbr_18]

I'm going with the over as well due to the every declining dollar and its been rather quiet lately...about time for someone to threaten to cut back supply/production...however if it doesn't go over by friday Nov. 16th, it will be time to run out and cover.

[bigboydan]

I'm curious to see how oil trades later on today when the market opens. I'm thinking it might go down a little bit actually.

[ShamsWoof10]

I'm curious to see how oil trades later on today when the market opens. I'm thinking it might go down a little bit actually.

It doesn't matter Dan that bet is as sure as sugar.... It's at 86 right now and there is no way short of a terror attack that oil will go up 9 bucks with no stiff correction in ....let's see... 2 months...

As a matter of fact mark this down... shorting oil is the smartest move right now...

By the way is there anyway of breaking that limit ...say by calling it in..?

[Dark Horse]

The (present) oil price in dollars is a reflection of the US economy. So you are betting on the uncertain state of that economy, not oil. Look at the rise in the price of oil since the Fed cut the interest rate. The joker in the deck is the Fed, which meets again at the end of this month.

[ShamsWoof10]

The (present) oil price in dollars is a reflection of the US economy. So you are betting on the uncertain state of that economy, not oil. Look at the rise in the price of oil since the Fed cut the interest rate. The joker in the deck is the Fed, which meets again at the end of this month.

I would disagree... The joker is the deck is the ruling elite... I used to think about it from the same perspective when I first started watching "Oil"...

They have used a dozen reasons why "oil" moves... Remember in 05' how they spent about three months correlating the Dow's movement with oil..? "Oh the Dow is down that is why oil is up" or vice versa... Now when the Dow is up 4K more points and oil is up 30-40 bucks they don't talk about it...

How about Oil and the Dollar... I remember the Euro going from 1.33 to 1.19 but oil went up from 39 to over 50...

When those are not correlating they give OPEC a call... "OPEC has talked about reducing supply in the last quarter of this year" or how about our boy Chavez, who hasn't been in the news in a while.. Did they forget about him ? The Iranians are the latest correlation... This is a very wise move because it can push two agendas at once... It can be a reason to inflate oil as well as start a war...

Things only correlated with oil when they want them to... They can make oil 10 bucks again tomorrow but how would they justify it ? They can also make it 100 bucks tomorrow too but again how would they justify it..? Instead it, like everything, is done gradually and all this sh*t in the news is for us to chew on...

It is my belief after following oil and it's history that oil is two things... It is abundent and it is also the global currency NOT GOLD!!! Oil is what affects almost if not every man, woman, and child on earth... You can't go 5 feet without touching something made of it... Most of my helmets are by products of oil (facemask coating, decals, helmet, helmet padding, clips, and even the paint)... GOLD DOES NOT HAVE THIS EFFECT...

This is a way of inflicting inflation on everyone globally and I also believe the elite are trying to do to oil what they have done to diamonds... Everyone knows they are not rare but are only priced so high because of the monopoly on them...

[Dark Horse]

90 dollar oil, folks. That was fast. Seems like they were just talking about breaking 80.

At this rate, how could it not break 95 in the next two months?

[DrunkenLullaby]

At this rate, how could it not break 95 in the next two months?

It will - because the dollar is slightly more valuable than toilet tissue (although far more abrasive!) these days...and that's even before the Fed stupidly cuts rates again (which they will do because of the continued housing fiasco).

[DrunkenLullaby]

I see BetCris is offering prop wagering on the price of crude oil right now.

WILL OIL CREEP ABOVE $95 A BARREL IN 2007
10 /24 /077:00 AM

OVER $ 95 OIL BARREL +100

UNDER $ 95 OIL BARREL -150

I for one don't see the price of crude oil going over 95 a barrel, because we are way too close to election time.

Shamsy, note that they did not say "close" but said "creep". Methinks your ticket is about as valuable as a ticket on the Redskins last Sunday.

[ShamsWoof10]

I never said I bet it but I sure wanted to and still would if they put it up... Well "creep" can mean anything... We need to ask Dan about this or I will ask CS here in a little bit...

[DrunkenLullaby]

You're a funny guy. "Creep" can mean anything?

Dude, it's OK to admit you were wrong. I do it all the time. Ya learn & ya move on.

[ShamsWoof10]

You're a funny guy. "Creep" can mean anything?

Dude, it's OK to admit you were wrong. I do it all the time. Ya learn & ya move on.

cr1xxxx Jxxx:: hello I just have a quick question please

CS - Juan: Welcome to the Live Chat Support. How may I help you today?

CS - Juan: sure

cr1xxxx Jxxx:: I have a friend who called me from work.. I guess he took the OVER $95 on your "OIL" futures prop... Can you tell me if last night's prices qualify as it going over or does it have to CLOSE to go over..?

CS - Juan: close

cr1xxxx Jxxx:: ok so the over is NOT yet a winner is that correct..?

CS - Juan: correct
cr1xxxx Jxxx:: ok thank you very much... can you tell me the status of your credit card deposits..?

CS - Juan: still down sir

cr1xxxx Jxxx:: ok.. is it a technical error or are you not taking deposits by CC anymore..?

CS - Juan: technical sir, its the processor thats not working right

cr1xxxx Jxxx:: ok... when it does come back up how much can I deposit ?

CS - Juan: $1000 per day

cr1xxxx Jxxx:: how much per week..?

CS - Juan: 4000

cr1xxxx Jxxx:: That's not too bad actually... Ok I'll keep checking your deposit page.. Thank you for your time sir..

CS - Juan: You are welcome!

CS - Juan: Thank you for contacting Customer Service Live Chat. Have a nice day.

cr1xxxx Jxxx: you too

CS - Juan: bye


Well Drunkin' since you have so much practice it should not be hard for you to admit you are wrong... WOOOOF!!!

[ShamsWoof10]

Dude, it's OK to admit you were wrong. I do it all the time. Ya learn & ya move on.

Ummm... I'm waiting................................. .

[DrunkenLullaby]

I was sleeping and I was wrong. Admittedly surprised that they used the word "creep" and meant "close" but wrong nonetheless. Pretty rough beat if someone bet over and ends up not hitting this between now & Dec 31....not that that's too likely.

Seriously though dude, for you to call this thing a lock & still be somehow bragging that you're still right is something straight out of the Shamswoofian universe.

P.S. So sorry I made you wait an hour, but I've been waiting for a month for you to admit you're wrong about the scumbags at Sportsbook without alot of pressure.

[ShamsWoof10]

I was sleeping and I was wrong. Admittedly surprised that they used the word "creep" and meant "close" but wrong nonetheless. Pretty rough beat if someone bet over and ends up not hitting this between now & Dec 31....not that that's too likely.

Seriously though dude, for you to call this thing a lock & still be somehow bragging that you're still right is something straight out of the Shamswoofian universe.

P.S. So sorry I made you wait an hour, but I've been waiting for a month for you to admit you're wrong about the scumbags at Sportsbook without alot of pressure.

LLLLLOCK!! No one ever said locks can't be close... In case you missed it SHORTING OiL is another LLLLLLOCK...

We got JJ and everyone else on CNBC talking about $100 this and $100 that for OiL... The blowoff top was yesterday and now that they only raised it a quarter point, the hype is over and so is the run up for OiL... It will go past $100 don't get me wrong ...just not without this correction...

[DrunkenLullaby]

LLLLLOCK!! No one ever said locks can't be close... In case you missed it SHORTING OiL is another LLLLLLOCK...

We got JJ and everyone else on CNBC talking about $100 this and $100 that for OiL... The blowoff top was yesterday and now that they only raised it a quarter point, the hype is over and so is the run up for OiL... It will go past $100 don't get me wrong ...just not without this correction...

If both "shorting it is a LLLLLLOCK" and "it will go past $100 don't get me wrong" then you might want to give us all a time frame for when it's time to stop shorting.

[ShamsWoof10]

If both "shorting it is a LLLLLLOCK" and "it will go past $100 don't get me wrong" then you might want to give us all a time frame for when it's time to stop shorting.

That is a good point.. Short until $80 then get out... I have no idea how low it will go but in my opinion it will go below $80... After it's done correcting then yes within two years I would say $125 and maybe even more...

By they way gold is a LLLLLLOOOOOCKKKK play for the next 5-10 years...

[DrunkenLullaby]

T
By they way gold is a LLLLLLOOOOOCKKKK play for the next 5-10 years...

Well, we agree on that one....but I would still never use the L word.

[bigboydan]

Here is the latest offering that Bookmaker has on oil prices:

WILL THE OIL PRICE REACH $120 PER BARREL IN APRIL

YES - OIL PRICE REACH $120 APRIL 2008 +200 - -

NO - OIL PRICE REACH $120 APRIL 2008 -450

I think it will go under, but I just can't lay it.

[pico]

we're 5 dollars away from 120

[bigboydan]

we're 5 dollars away from 120

And their is only 13 days left in the month.

[pico]

And their is only 13 days left in the month.

oil seems to go up a dollars a day these days...

anyways, the heavy chalk on the under pretty much saying that there is a slim chance of hitting 120. i am no oil sharp, but 115 is a bubble price. the peak oil theory is bullocks...there are still a lot of reserves out there.