Oil now at US$129/barrel and projected to hit US$150 by year's end

**[archie]** · May 21st, 2008 08:51 AM

Originally Posted by tidus1203

Well curse me if you want but I did buy GOLD and OIL futures yesterday

I guess its my hedge to rising prices, on one hand I am paying more for my gas on the other my investments are making money so even out lang

:boo: joke lang...

Originally Posted by tidus1203

Eto na lang consolation price natin siguro. Everything that goes up must come down, true for physics and definitely true for the financial markets. You can quote me if you want but OIL is in a bubble too much money is going in including me

My reason is of course to protect myself from the erosion of inflation and I am sure many others also bought in for their own reasons (some to make quick money). You think at P70/L the economy will function properly? Who knows maybe the RP government will be pressured to remove tax on oil and remove the deregulation law if this continues...

i guess your right about this, parang hindi na talaga makakaya ng average juan ang 70php/liter. sana talaga bumaba na yung prices or at least stop the weekly increase...

**tidus1203** · May 21st, 2008 08:54 AM

^^You could always join the OIL buying spree

Bababala lang, if this reverses mabilis din yung bagsak maybe faster than the rise since IMO oil is in a bubble stage...

**uls** · May 21st, 2008 09:26 AM

iba naman po ang "NO GAS" from expensive gas.

I'd rather have expensive gas than no gas to buy.

OPEC says there is no supply problem.

OPEC even says their customers are not demanding more oil, so they don't have to pump more oil.

Guess who caused oil to hit $129 last night... that 80 year old oil man T. Boone Pickens, Jr.!!!

He was on CNBC last night and he said oil will reach $150.

Maraming salamat lolo...

Why don't u just develop Alzheimer's or something....

**tidus1203** · May 21st, 2008 09:40 AM

Hehehe well he is getting rich as oil goes up. He is a big oil baron as well as natural gas... Well like I said if you can;t beat them, join them so ayan I also bought oil to at least soothe the irritation at the pumps... If you read my signature, I still believe in that and we should be GOLD and hard assets. Inflation will be public enemy #1 this year and possibly next year as well....

**badsekktor** · May 21st, 2008 09:46 AM

sabi na nga ba magandang investment ang oil eh! anyway, meron na bang timetable kung kelan mauubos ang oil reserve ng earth? ano kaya ok na alternative?

**[archie]** · May 21st, 2008 09:54 AM

Originally Posted by uls

iba naman po ang "NO GAS" from expensive gas.

I'd rather have expensive gas than no gas to buy.

OPEC says there is no supply problem.

OPEC even says their customers are not demanding more oil, so they don't have to pump more oil.

Guess who caused oil to hit $129 last night... that 80 year old oil man T. Boone Pickens, Jr.!!!

He was on CNBC last night and he said oil will reach $150.

Maraming salamat lolo...

Why don't u just develop Alzheimer's or something....

totoo ito??? parang badtrip yun ha???!?

siya ba dictate ng oil prices sa market?

**tidus1203** · May 21st, 2008 09:54 AM

Oil the commodity ha and NOT stocks of GAS COMPANIES. Those are two different things...

**1997** · May 21st, 2008 10:12 AM

Originally Posted by tidus1203

Oil the commodity ha and NOT stocks of GAS COMPANIES. Those are two different things...

paano moginagawa yun? If im to buy paano process?

**tidus1203** · May 21st, 2008 10:21 AM

What I did is open a US brokerage account such as TD Ameritrade (www.tdameritrade.com) there are also others like Charles Schwab, Etrade, Fidelty just Google them. Wire money to the account and I bought USO (United States Oil Reserve Fund) which tracks the price of NY Light Sweet Crude Oil. I also bought GLD (StreetTracks Gold Fund) which tracks Gold prices.... You need US Dollars by the way to buy the commodity. I don't know any a way in the Philippines to buy oil since commodity and futures trading is banned here.

**uls** · May 21st, 2008 11:19 AM

Originally Posted by archie123456789

totoo ito??? parang badtrip yun ha???!?

siya ba dictate ng oil prices sa market?

Totoo dude. Why would i lie? hehe

http://www.cnbc.com/id/24723260/site/14081545/

Di sya nagdidictate ng oil price.

Kino-condition lang nya ang market na tataas pa ang oil price.

The market listens to him coz he is a bigshot pagdating sa oil. The only people bigger than him are OPEC oil ministers.

He has huge bets on rising oil price... meron sya hedge fund noh??!!!

so he comes out on CNBC and says oil will rise to $150...

Coz he needs people dumb enough to buy his trades when he is already selling.