The trend is your friend (if you are long gas and oil)

Comment on the February 13 posting:  Prices hiked on Tuesday the 15th, and again yesterday.  CORRECT, sadly.

Wednesday, February 23, 2011, 12:30PM:  When I see headlines in USA Today predicting $5 gas, and screaming on the Internet that the price of oil is about to double, I want to say, “Let’s take a deep breath.”  Yes, short term, the energy markets are following the mantra, “The trend is your friend until it ends.”  The trend has been up since last May, actually, and the idea of this mantra is that when a market is trending up, it will most likely take the news as an excuse to keep trending up.  Sadly, that means people are getting rich right now, and we are paying more money for gas.  Based on the UGA quote, wholesale gas prices are up again today, and in  volatile markets like what we have now, it is hard to make any predictions.  So, I won’t. — Ed Aboufadel

Updated: February 23, 2011 — 12:28 pm

Leave a Reply

Your email address will not be published. Required fields are marked *

Please leave these two fields as-is:

Protected by Invisible Defender. Showed 403 to 1,693,146 bad guys. (c) 2017 Frontier Theme