Guess the Bottom of the Barrel - of oil, that is... WL.com CONTEST!

[Mike Carey]

The low for oil has already been put in this month. From here, only higher. The $30's for oil will be seen in 2009, not 2008...well that's my predication anyways...worth a grain of salt

Oil will follow the stock market. Expect the equity market to trade in a range from 7,500 - to 10,000 (on the DOW) for the next few months. Watch for gold (GDX) and related commodities to surge such as silver (SLW) via mega-government-induced inflation. This bodes horribly for the dollar which has been trading on thin, thin ice as of late. The bond-market is about to explode with yields artifically low and moves in the treasury market not witnessed for decades. Commodity plays are about 1-3 months away from take-off with gold well above $1000/oz by March. Buy many commodities now to hedge against inflation, watch oil spike here in the near term but head lower, and lower. Pick a few good engineering and construction firms like Jacbos Engineering (JEC) and Flour (FLR) and look for the high yielders like Catepillar (CAT). Oil will follow the equity market in a relatively good range for the next few months. It's all fun to watch]allocated[/i]. Happy oildays! KTK

That's all well and good but what's your prediction? (if you think it's already been reached then use that number as your prediction.)

[Mike Carey]

Today's Close: Last Trade: 43.87 and the 5 day chart:

[VHMLLC]

i say $30.00 straight up.

:viking:

Sorry Stan, I already called that. I don't think that there can be duplicates.

boy do i feel like an example ok $43.28






:viking:

[panfisher]

40.81

[Mike Carey]

40.81

panfisher knows how to read charts. :bounce:

[MikeFishes]

Okay, I'm in for $32.18

[Anonymous]

I'm going with $24.00
Fair Winds & Following Seas
Big D

[Fish On!]

I'll take a stab. $29.32 Saw on the news today that gas was $1.25.9 in the midwest. Gas under a $1 a gal???? Didn't think I'd ever see gas under $2 in my lifetime.

[kutthroatkilla]

That's all well and good but what's your prediction? (if you think it's already been reached then use that number as your prediction.)

The low has already been put in. Find the low reached and that's my answer. So, what was that...$40.81 I believe. Correct me if I'm wrong. My point is crude oil has seen its lows for 2008 but not 2009. Commodities have to come back with Obama's big infra. plan which will only weaken the dollar as we go on...it's already hitting major resistance as we speak. Oh yeah, did you buy any of that GM Mike Carey? Not sure if you went through with that trade or not.

[Mike Carey]

no GM, yikes, guessed that dead wrong. Good thing I'm not earning a living with investments. Panfisher already called 40.81, you have to pick a different price, sorry.

[Rich McVey]

I'll take a stab. $29.32 Saw on the news today that gas was $1.25.9 in the midwest. Gas under a $1 a gal???? Didn't think I'd ever see gas under $2 in my lifetime.

Yup, $1.23 in Casper Wy.

[Marc Martyn]

Gas under a $1 a gal???? Didn't think I'd ever see gas under $2 in my lifetime.

Here's where I get to show my age. While in high school in the 60's, regular was $0.28/gal and "ethal" was $0.32/gal. I would fill up my 1965 VW bug for $2.80
In 1969, there was a "gas war" in Spokane. I filled up my bug when it was on "reserve" for $1.00. Gas for about 1 week was $0.10/gal.

[kcc]

38.66

[AdsBot [Google]]

Gas under a $1 a gal???? Didn't think I'd ever see gas under $2 in my lifetime.

Here's where I get to show my age. While in high school in the 60's, regular was $0.28/gal and "ethal" was $0.32/gal. I would fill up my 1965 VW bug for $2.80
In 1969, there was a "gas war" in Spokane. I filled up my bug when it was on "reserve" for $1.00. Gas for about 1 week was $0.10/gal.

Those were the days - 5 bucks was worth a heck of a lot more than 5 gallons of gas! I remember driving from Seattle to Yakima for under $2.50 and always stopping to buy 5 burgers for a buck at McDonalds. Of course I only made $1.25 an hour working in a local Shell station.

[Marc Martyn]

Yup, a buck and a quarter washing dishes on weekends while in school. One buck car load at the local drive-in theater. Yes, there were theaters that you watched movies in the car. Awe, the good old days...........smash face:pr: =p~ [-x

[muskyhunter]

And just think if we didn't have the .25 gas tax added to the price.I think when I went through Troutdale, Or. Last April it was .25 less there than across the Columbia at that time. And thats when we were pushing almost 4 bucks a gallon. I think it'll hit a buck a gallon, then it'll go back up to around 2 bucks and stabilize at that point. I'd be happy with that. But then milk will be 3.50 a gallon, go figure that one out.

[muskyhunter]

I'd say 28.00 per barrel. The Clinton years...

[Yakfish]

Hi,
I'll put a bet in at $35.68.
Tight Lines,
Dreamflyfishing.com

[Bro-Rando]

37.77

[FISHINROB]

IM GONNA SAY 43.67 A BARREL