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Non-Cattle Specific Topics
Every Thing Else Board
Gas Prices Dropping
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<blockquote data-quote="cmjust0" data-source="post: 271203" data-attributes="member: 2882"><p>I think $60 is the bottom on crude. Things are different in the world than they were at $25, and I think $60 is where the overall backdrop is figured in as a given. By backdrop, I mean the wars in Iraq and Afghanistan, tensions with Iran, demand from China, overall supply and demand, natural disasters, etc. If any of those things change <em>significantly</em> for the better, it'll go down. If they change significantly for the worse, it'll go up. </p><p></p><p>If it remains as quiet as it has been lately, I think we'll see oil at $60 pretty soon. If the news on crude is generally bearish after that and it still <em>doesn't go down</em>, I'm buying it.</p><p></p><p>Once you're at the bottom, it's a lot easier for something bad to happen and drive it up than for something good to happen and drive it down further.</p></blockquote><p></p>
[QUOTE="cmjust0, post: 271203, member: 2882"] I think $60 is the bottom on crude. Things are different in the world than they were at $25, and I think $60 is where the overall backdrop is figured in as a given. By backdrop, I mean the wars in Iraq and Afghanistan, tensions with Iran, demand from China, overall supply and demand, natural disasters, etc. If any of those things change [i]significantly[/i] for the better, it'll go down. If they change significantly for the worse, it'll go up. If it remains as quiet as it has been lately, I think we'll see oil at $60 pretty soon. If the news on crude is generally bearish after that and it still [i]doesn't go down[/i], I'm buying it. Once you're at the bottom, it's a lot easier for something bad to happen and drive it up than for something good to happen and drive it down further. [/QUOTE]
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