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So it looks like there is going to be military action against Libya. I predict oil to rise to at least $110 by Friday, possibly $120. The Dow will end the week below 11,000.
I'll say Oil $107, Dow 11,700 on Friday. No way it'll see $120, and $110 seems like a stretch considering what the markets have already been through with Japan and the Middle East conflicts. With the Dow, I think we are nearing the bottom of a correction from January 2011 highs.
I think it all depends on what happens in Libya. If things just grind along there, oil may take a slow upward trend for awhile. If Qaddafi lights up his own oilfields just for spite, then all bets are off--a jump to $150+, at least temporarily, is certainly possible.
Personally, I think another bubble is building, this time in the stock market. Everything that has been screwed up in the US economy and our energy-guzzling living arrangement is still screwed up. All that has happened is a gazillion "funny money" dollars have been dumped into the economy to prop up the Ponzi scheme. Some of that has flowed into the stock market. All it will take is one sobering event that hits the US directly to bust this latest Ponzi scheme. It could be Libya, it could be something else. It could be Japan, too--I don't think the full effect of that disaster on the whole world economy has even been measured yet--the economic "tsunami" of that has yet to hit the US, but it will.
my crystal; ball is foggy but ill run with oil below 100 as we take more and more control in libyia . as far as markets i wont even attemt that call. i cant tell you short term where it will be and anyone who thinks they can call it is fooling themselves.
It took him all of two weeks to move his "Postman" prediction back two years.
March 4
Quote:
Originally Posted by bchris02
Ever seen the movie "The Postman"? That is what America will look like in 2013.
March 18
Quote:
Originally Posted by bchris02
Watch "The Postman". That will be the world we are living in by 2015.
How come 2014 doesn't get any love?
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