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Started By
Message
Anybody want to get in on some DIG?
Posted on 6/2/10 at 6:47 pm
Posted on 6/2/10 at 6:47 pm
Oil prices are gonna go up short term for sure........you could see at least a 10 dollar increase.
2
Posted on 6/2/10 at 6:53 pm to L S Usetheforce
quote:
Oil prices are gonna go up short term for sure
Why? The moratorium on drilling? That will have little if any effect on short term oil prices. If SHTF in the Euro zone then oil is heading downwards.
Posted on 6/2/10 at 6:57 pm to Tigris
i sold some my SCO, but not all of it yet.
there is a buttload of oil above ground these days and demand just ain't there.
there is a buttload of oil above ground these days and demand just ain't there.
Posted on 6/2/10 at 6:58 pm to Tigris
I've been watching DIG and DUG throughout the oil crisis and DIG is almost at its 3 month low.......thats all I'm saying; and yes I think the moratorium will effect it some.... It sure killed the Dow with 5.00 gas fears.
This post was edited on 6/2/10 at 7:01 pm
Posted on 6/2/10 at 6:59 pm to L S Usetheforce
Clam you bought at 11?
Posted on 6/2/10 at 7:10 pm to L S Usetheforce
12 and change.
Posted on 6/2/10 at 7:22 pm to clamdip
Nice lil buy there. I wish I would have shorted BP on april 20th....... 
About 100 shares would have been a nice sell this week
About 100 shares would have been a nice sell this weekThis post was edited on 6/2/10 at 7:23 pm
Posted on 6/2/10 at 7:50 pm to L S Usetheforce
quote:
DIG is almost at its 3 month low.......thats all I'm saying; and yes I think the moratorium will effect it some....
It is certainly possible that you are right about oil bottoming but I really don't see the moratorium having any effect at all in the short term. The GOM produces only around 4% of the world's oil and we are talking about wells that would not be producing for a year or more. Maybe there is a psychological effect but there really is no supply/demand impact. I guess it really depends on how you see the world economy playing out. Personally, I'm 90% in cash but plan to buy some oil stocks as a large percentage of my mix when I think we have bottomed. No idea when that will happen but there are too many ominous rumblings right now for me to be investing in oil or anything else really.
Posted on 6/2/10 at 8:24 pm to Tigris
I no longer touch these ETF commodity funds. The decay on them over time is absurd. I made a lot on DUG back in the day when oil was over $100, but that was only because I was fortunate to time it perfectly. I wouldn't do it again, just because if you miss the timing, you lose--even if you are right in the medium/long term.
Posted on 6/2/10 at 9:01 pm to LSUtoOmaha
Well no disrespect but that is the point of these funds.........you aren't suppose to hold on to them are you can be caught with your pants down.......
Posted on 6/2/10 at 9:12 pm to L S Usetheforce
I know, I'm just saying that nobody should look at these funds as more than a very short-term swing trade.
Posted on 6/2/10 at 10:24 pm to LSUtoOmaha
quote:
we are talking about wells that would not be producing for a year or more.
say what? The moratorium affects planned development wells that were to put on production right after completion. The decision will definitely affect GOM production levels. But I agree I dont think it affects oil prices substantially.
Posted on 6/2/10 at 10:34 pm to lsugradman
The moratorium is on all deep-water GOM wells, not just new exploration wells. I doubt we see significant upward pressure on oil prices as a result though. Demand should remain fairly flat over the next 6 months as concerns over EU sovereign debt and a Chinese slowdown weighs on investor sentiment.
Posted on 6/2/10 at 10:40 pm to samisrael
+1. Asia is the global marginal commodity buyer, and that train is hitting the skids hard.
Posted on 6/3/10 at 1:50 pm to L S Usetheforce
This seems like a good buy IMO. Oil prices will definitely go up. It's assured just like death and taxes
Posted on 6/3/10 at 2:13 pm to carlsoda
And there it is.
Posted on 6/3/10 at 2:35 pm to kfizzle85
carlsoda must work for the API and knew it was coming. 
Posted on 6/3/10 at 2:41 pm to tirebiter
Nah man sure don't it just seems like it will go up huge bc I am not going to buy it. That's how I roll
Posted on 6/3/10 at 2:49 pm to carlsoda
I'm just pointing out LSUtoOmaha's earlier point.
Posted on 6/3/10 at 3:42 pm to kfizzle85
3 bucks a share aint bad if I had 500000 gs to pump and dump.........
This post was edited on 6/3/10 at 3:43 pm
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