Energy Outlook: Where is the Bottom for Oil?
By Barry Ritholtz - November 11th, 2008, 9:01PM
Crude Oil is trading at $59 and change tonite.
China Stimulus and Oil Prices – Analysis and Discussion with Antoine Halff of Newedge USA; Oil Price Down 58% from High, a Dramatic Drop But Still High Historically
00:00 Impact of China’s stimulus package on oil
01:36 Outlook for oil prices; Russian oil supply
Running time 03:17
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Source:
Newedge’s Halff Sees Oil Prices Bottoming Around $60: Video
Bloomberg, Nov. 11 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=au_MBw5iOEhg
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November 11th, 2008 at 9:13 pm
Nominally, but not in real terms, a signifigent correction has been made. The Commodity bubble was just like the Stock Bubble(when it burst it took down the Great Lake states, Housing bubble(when it went it took down the Sunshine states) ete ete. A bubble of credit that imploded once the fundies dried up. They will take down the Plain states.
November 11th, 2008 at 11:49 pm
USD up= everything else down.
As soon as the dollar reverses its parabolic rise(or short squeeze) we are going to see rallies in commodities.
November 12th, 2008 at 12:41 am
I don’t believe the commodity run is over yet either, we’ve overshot on the downside because of the insanity in October.
Then again, wtf do I know, I went long UYG today after the apparent strength in GS and reading about the Bear Stearns mortgage backed debt that is actually performing well for Blackrock. Look on the bright side, the downside is only 7 :)