Two Ways To Play: Goldman Predicts Oil Super Spike. Again. Terry Woo Sep 03, 2008 5:06 pm |
![]() |
![]() |
|
||||||||||||
|
Bloomberg reports analysts at Goldman Sachs are calling $105 oil cheap because hurricane-related losses reinforce the probability crude oil will reach $149 a barrel by year's end. Analysts Jeffrey Currie in London and David Greely in New York wrote in a report yesterday that robust emerging market oil demand growth “against a backdrop of continuing non-OPEC supply disruptions” will continue to have an upward effect on prices.
Further, the analysts wrote Hurricane Gustav this week was “just another in a long list of supply disruptions” that cut 40 million barrels of crude oil from the world markets last month.
Crude oil fell 28 cents today to close at $109.42 a barrel in New York on the New York Mercantile Exchange.
See Toddo’s thoughts in Toddo on TV: Out of Energy.
From the Bull Pen: Those bullish can play the oil ETF (USO); one option could be to set an initial position here and add on any weakness to $80 support; sell stops can be below that level.
From the Bear Cave: Although the correlation isn’t perfect, bears expect airline stocks to fall, should crude oil rapidly increase in price. Continental Airlines (CAL) may be a downside option; sell stops can be set above $19.50.
|
|||||||
discuss this article and more on the mv exchange |
|
Get real-time options trading ideas from Steve Smith, veteran options trader and newsletter author, plus let him show you the way to cut risk and boost your returns through the strategic use of options. Click here for a free 14 day trial to OptionSmith by Steve Smith.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2009 Minyanville Media, Inc. All Rights Reserved.
| add rss feed | free article alerts |
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
DC
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennesee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Local Guides


















