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T. Boone Pickens Says It's Headed to $125
By Ian Cooper | Saturday, April 19th, 2008
Think $115 oil prices, and $3.40 U.S. pump prices are hard on your wallet? Just wait until we reach T. Boone Pickens' projected rise to $125 a barrel.
Quintupling in price since 2002, oil hit a new record of $115.54 on Thursday, and is likely headed higher, thanks to soaring emerging market demand.
And, despite new production from Canadian oil sands and elsewhere, Pickens believes that global oil production is unlikely to rise above the current 85 million barrels a day, "while global demand will likely hit 87 million bpd in the third quarter of 2008."
This is a 180 from earlier Pickens predictions for falling oil prices. He quickly changed his forecast after his hedge fund lost 20% of its value in the first quarter of 2008.
Correction for this bull run will happen. The previous bear period lasted about 3 weeks, thus this bull run in STI is due for some correction. Beside that, this bull run is not supported with fundamentals. Loss of $5.1B..imagine how long will the bank take to earn this money back....Sell into strength when you have chance....XD period should be the time when the market will crash...personal pt of view...do yr chart!
stupidfool ( Date: 19-Apr-2008 13:07) Posted:
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confirm cheong on Monday. just wait and see bosses
Masterstroke!!!
idesa168 ( Date: 18-Apr-2008 23:13) Posted:
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I think this rally is a "scam" to bail out the fundmanagers who were stucked in the previous mini rally. Whatever the reason/s for the uncalled rally, SPC might hit $8.26 - $8.30 on Monday. I am prepared to exit on my contra position in SPC.
All these write-downs are in billions of dollars, not cents. All of us around the world are fully aware of the facts. It is a time bomb.
This is absolutely suicide in investment approach. Although Citibank's losses is above analyst expectation, BUT THEY ARE STILL AT LOSS!
ViperG ( Date: 18-Apr-2008 20:42) Posted:
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When news has been "pre-leaked", so called giving a sense of what to expect, it's easier to accept. Investors don't like surprises. Anyway, the FED has tried so hard a few weeks ago to try to stablize the market with the emergency rate cut, their role in Bear Stern deal , I am sure they would not want Wall Street to collapse. They will try all ways within their means to stabilise the stock market.
The 5.1B loss is more than analyst expectation but revenue has increase above analyst expectation. Market will like this results as there are no huge surprises.
idesa168 ( Date: 18-Apr-2008 19:17) Posted:
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"Citigroup Has Second Straight Loss After $12 Billion Writedown"....This is the headline in the Bloomberg and yet the Futures went up to 100+ point. Where is the logic?...So it's the Chngkay's call, good or bad, up or down!
Citigroup financials are out........
AK_Francis ( Date: 18-Apr-2008 18:52) Posted:
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Citi tonite would stir shit, next Mon gonna be good day for all leow. Just enjoy your weekends. Cheers.
Wah, just got to see the price of SPC, so boring today!!!.... Well, today the volume distribution chart shows that the big buy (by the BBs), buying is more than the selling by 100%, trades more than 30 lots block, Sell is 100 Buy is 200.....what does this tell you...LOL!!!!....ACCUMULATION and waiting to cheong, right!
Today got 4pm Special Show??
i say above 8
maybe a nice 8.05
SPC likely to close below $8 today
Today all counters are like that. STI Volume is just 574mil when usually on avg by noon is about 1billion. So yah, can switch off and do something more interesting....BACK TO WORK...hehehe! Cheers! I will not monitor stock today! You guys enjoy...Oh btw, I am expecting SPC close 8.16 today, see my wish answered or not.
ViperG ( Date: 18-Apr-2008 12:01) Posted:
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Bro..Today market very sian. No up no down for this oil tanker....can switch off my screen and go to sleep liao! U still vested for "long"?
idesa168 ( Date: 18-Apr-2008 10:21) Posted:
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today is snooze fest
i dotn expect spc to have any variance more than +-0.05
Ha ha, bought one more this idiot to add into AK portfolio. Fire and forget leow. No more action for today. As said earlier, go for early TGIF, song song kee Jurong leow.