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M Simms,
I disagree that $12 crude necessarily
equates to a depression. A look back at the past decade will reveal that crude
prices have lagged the economy. Apparently the oil producers are not too swift
in adjusting to current conditions. You may remember just about $3 years ago,
crude prices got to $11 and we weren't in a depression. In fact for part of the
period friom 1998 - 2000 the economy was doing well and the stock market was
rocketing with relatively low crude prices for most of that time.. Last
year, when the economy was tetering and the stock market was imploding, our OPEC
"friends" kept the lid on production to keep prices higher to help assure
everyone of having a recession. Recently, with our new friends
like Russia, the whole oil picture has changed which could mean oils prices
could go much lower while the economy is in the process of improving.
Remember that these bozos are making decisions about oil production based on
economic data that is probably six months old. Anyway, I would want
to go long crude at $12 and put it away for the grandchildren. <G>
Cheers,
Norman
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
M.
Simms
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, November 17, 2001 1:30
PM
Subject: RE: [RT] January Crude Oil
Targets
The
$12 crude scenario would indicate we are in a depression.
<BLOCKQUOTE
style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #0000ff 2px solid">
<FONT face="Times New Roman"
size=2>-----Original Message-----From: Dorothy K. Carter
[mailto:dorothy.carter@xxxxxxxx]Sent: Saturday, November 17, 2001
12:25 AMTo: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxxSubject:
[RT] January Crude Oil Targets
Jan Crude target <FONT
color=#ff0000>16.35 and if that does not hold then it has a
shot a stretch
target of <FONT
color=#ff0000>12.32To
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