Oil over $54 a barrel

wig · 10-25-2004

Alex, it is truly interesting to me that when the question comes up it is usually when the market is approaching a decision point. It reinforces the counter intuitiveness that markets create.

Oil is still (obviously) in a powerful bull market. Ironically, we are also within the range of the most important cycle alignment for the energy sector in 2004 (mid Oct - mid Nov)

I would not be surprised to see 56.90/CLZ hit in Oct, with potentially higher prices into the first half of November.

The fact that we are rallying into this time frame suggests that it will be a cycle high. This high could be the most significant one we have seen in a while, giving some relief to energy prices over the ensuing 2-4 months.

Diesel is $2.20 here and it costs me $100 to fill up.

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10-25-2004	#1
wig Members Join Date: Oct 2002 Posts: 1,248	Alex, it is truly interesting to me that when the question comes up it is usually when the market is approaching a decision point. It reinforces the counter intuitiveness that markets create. Oil is still (obviously) in a powerful bull market. Ironically, we are also within the range of the most important cycle alignment for the energy sector in 2004 (mid Oct - mid Nov) I would not be surprised to see 56.90/CLZ hit in Oct, with potentially higher prices into the first half of November. The fact that we are rallying into this time frame suggests that it will be a cycle high. This high could be the most significant one we have seen in a while, giving some relief to energy prices over the ensuing 2-4 months. Diesel is $2.20 here and it costs me $100 to fill up.