Replies to post #48593 on Zeev's Turnips Patch-No Politics (ZEEV)

[S Chun-Li]

No fave oil stocks but I trade the crude futures occasionally.

What are your thoughts on price of oil. My guess is up into an Iraq conflict, maybe even hitting $40. But I'm not going to trade it on the way up. Plan is to wait for escalation, then short as long term it is liekly to get back into the $18 - $24 range.

Incidentally, looks like US is stocking up. Rigs normally seeing one tanker a week are now seeing three. This is second hand info. I am not in the oil biz.