Oil and the media!

[LiveFree79]

Haha the media is ridiculous. Oil drops $18 in the last four days for whatever and they are making this sound like oil will never go back up and things are starting to get better yadda yadda.

 

[jd603]

http://finance.google.com/finance?q=uso

Tempting, tempting.

I have been looking at buying soon and waiting for the next Iran scare or the like.

 

[Bruno]

I know. Usually it is preceeded by, "Well, it looks like we are finally getting some relief at the pump!"
I haven't seen that relief yet. Gas still the same as last week.

 

[Zippyjuan]

Anything that effects the perception of stability in the oil markets will send it soaring again. US demand is falling and they are going to be having discussions with Iran both of which are soothing the markets a bit. Don't look for oil to drop back to $50 a barrel though.

 

[Fox McCloud]

over the long run, it'll just go back up--the USD is lower than ever before...which is the #1 cause for the rising price of oil.

So this is only a temporary correction.

 

[jd603]

Exactly, which is why I've suggested people buy and wait for the next 5%+ upswing.

over the long run, it'll just go back up--the USD is lower than ever before...which is the #1 cause for the rising price of oil.

So this is only a temporary correction.

 

[SevenEyedJeff]

The same thing is happening to gold and silver, take advantage of the lower prices to pick up some more before it goes back up.