My mistake. Actually posted 4-3-06. (I looked @ join date not post date.) Corrected to…WTI 66.80, S&P 1298, 10 yr 4.87. Not nearly as dramatic, eh? 

[quote=Revealer]My mistake. Actually posted 4-3-06. (I looked @ join date not post date.) Corrected to....WTI 66.80, S&P 1298, 10 yr 4.87. Not nearly as dramatic, eh? [/quote]

Don't sweat the error, it happens, but what point were you trying to make by it? Oil prices could climb a great deal and he could still be 100% right if the reasons for the climb have nothing to do with your belief in peak oil, right?

[quote=mikebutler222]

[quote=Revealer]My mistake. Actually posted 4-3-06. (I looked @ join date not post date.) Corrected to....WTI 66.80, S&P 1298, 10 yr 4.87. Not nearly as dramatic, eh? [/quote]

Don't sweat the error, it happens, but what point were you trying to make by it? Oil prices could climb a great deal and he could still be 100% right if the reasons for the climb have nothing to do with your belief in peak oil, right?

[quote=Revealer][quote=mikebutler222]

[quote=Revealer]My mistake. Actually posted 4-3-06. (I looked @ join date not post date.) Corrected to....WTI 66.80, S&P 1298, 10 yr 4.87. Not nearly as dramatic, eh? [/quote]

Don't sweat the error, it happens, but what point were you trying to make by it? Oil prices could climb a great deal and he could still be 100% right if the reasons for the climb have nothing to do with your belief in peak oil, right?

[/quote] Yep. Could be. So could I. In the meantime about only thing working is energy "stuff." BTW, any comparison to tech bubble is incredibly off base. One of my current favs. is a driller selling @ 11X earn and 8X estimate. 6.6X cash flow. 80/20 equity/debt ratio. Any tech names from 99-00 fit that description? [/quote]

The p/e ratios are certainly different, but the enthusiasm and universality of opinion is very much the same. BTW, I’m long most every name in OIH, so it’s not like I’m shorting…<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[quote=mikebutler222]

[quote=Revealer][quote=Revealer]You know how to tell if it's a bull market?.......It makes new highs. [/quote] Read above quote, please.[/quote]

Well, I guess if you want to buy today because it's higher now than it as before, that's a great mantra 

I do enjoy (and this isn't just you, Revealer) the calls of triumph when a commodity hits a new high flowed by the sound of crickets from the bulls when the commodity the slumps. Jimmy Rogers is a master of this sort of cheer, then hide stuff. I heard it summed up well by a candid analyst the other day on CNBC. The subject was gold. The guy said “Remember the Doctors who were buying gold at $700 and sold at $570? Well, they’re buying again”….<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[quote=Revealer][quote=mikebutler222]

[quote=Revealer][quote=Revealer]You know how to tell if it's a bull market?.......It makes new highs. [/quote] Read above quote, please.[/quote]

Well, I guess if you want to buy today because it's higher now than it as before, that's a great mantra 

I do enjoy (and this isn't just you, Revealer) the calls of triumph when a commodity hits a new high flowed by the sound of crickets from the bulls when the commodity the slumps. Jimmy Rogers is a master of this sort of cheer, then hide stuff. I heard it summed up well by a candid analyst the other day on CNBC. The subject was gold. The guy said “Remember the Doctors who were buying gold at $700 and sold at $570? Well, they’re buying again”….<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[/quote] What do we do now?[/quote]

Depends on what "we" think is moving prices currently. Given that I think prices are up due to the most recent flair-ups in the Middle East and Nigeria and not some systemic depletion or coming shortage, I'm considering taking some money off the table here.

My point with the above CNBC comment (and the point of the guy making the comment) was that this is just the sort of time when "dumb money" (no offense to anyone here, he and I are talking emotion driven nonprofessionals) comes rolling in and a consenus is reached that prices can only go higher.

What do you think?

[quote=Revealer][quote=mikebutler222]

[quote=Revealer][quote=Revealer]You know how to tell if it's a bull market?.......It makes new highs. [/quote] Read above quote, please.[/quote]

Well, I guess if you want to buy today because it's higher now than it as before, that's a great mantra 

I do enjoy (and this isn't just you, Revealer) the calls of triumph when a commodity hits a new high flowed by the sound of crickets from the bulls when the commodity the slumps. Jimmy Rogers is a master of this sort of cheer, then hide stuff. I heard it summed up well by a candid analyst the other day on CNBC. The subject was gold. The guy said “Remember the Doctors who were buying gold at $700 and sold at $570? Well, they’re buying again”….<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[/quote] What do we do now?[/quote]

buy on weakness- which is not now.

I was referring to gold, not energy. I know what to do with energy.

[quote=Revealer]I was referring to gold, not energy. I know what to do with energy.[/quote]

oh-

buy on weakness- which is not now.