May 18, 2007
Stock Du Jour (DUSA) & Random Observations
An absolutely nowhere day, perfectly directionless, one of those eerie pre-options expiration “pegging” exercises maybe?
Notable New Lows: Newmont Mining (NEM), JDS Uniphase (JDSU), Conexant Systems (CNXT), and Doral Financial (DRL) — I wouldn’t buy that for a dollar (closed at $1.00 exactly).
Notable New Highs: ENERGIES, Benjamin! Energy SPDR (XLE), Oil Services HOLDR (OIH), Transocean (RIG), Schlumberger (SLB) … also Boeing (BA), Crocs (CROX), and Ctrip (CTRP) — I hate myself for not buying Ctrip since we use the service constantly and I’ve recommended the stock far and wide since Day One — I don’t know what’s the matter with me, this inability to take my own advice on CTRP.
DUSA Pharmaceutical (DUSA) was the stock du jour. Probably everyone caught it and Dummies worldwide were filled with delight. I suspect that my lessons have generated tens of millions of dollars in profits for folks since I wrote them — let’s not talk about the losses, lol.
May 18th, 2007 at 9:52 am
We’re biased but there is really something to the whole peak oil scenario—- we like oil and gas futures, we have free realtime crude oil quotes and free realtime crude chart, monthly, quarterly, one year, five year—worth a look for those interested in energy——– we also have a link to the latest from t. boone pickens and his current stance on oil and gas –he’s very bullish –says we consume 30 billion barrels of crude annually and come nowhere near replacing it —good stuff—-pk
May 18th, 2007 at 10:45 am
pk: That’s dangerously close to a site-hyping comment but I’ll let it slide assuming it doesn’t happen again. — The (Comment) Terminator
May 18th, 2007 at 12:22 pm
Mmmm-mmmm. spam-a-licious!
peak oil!! I’ve got my tin foil hat on, may have another serving of stark raving 50+ year old useless theory ?
Yummy! I’ve got peak oil in my tummy!
May 18th, 2007 at 12:40 pm
Babak: I dunno, peak oil could be for real, I just dont’ want a laundry list of all the wonderful things you have on offer at your site.
May 18th, 2007 at 6:31 pm
Babak: I believe peak oil is real but I don’t know about the exact timing of it. It might be 2010 or 2090. Still, I think its a safe bet to assume that we have a finite source of fossil fuels, the trick is figuring out when they run out. :)
May 18th, 2007 at 6:58 pm
RE: peak oil
Go to YouTube and type in “Lindsey Williams”. He was on the TransAlaska pipeline back when they found the largest oil field in N. America. He says that the U.S. has enough oil for the next 170 years - without any need from the Middle East.
May 18th, 2007 at 9:20 pm
agree, i definitely got carried away—i get too excited about it sometimes—-for those who commented and those interested in peak oil etc—listen to the t. boone pickens discussion with steve forbes at the milken institute you can find it here: (not our site)
http://paul.kedrosky.com/archives/2007/05/02/debating_peak_o.html i think anyone interested in biz might want to check it out —t. boone kicked butt last year made over a billion personally—-thanks pk
May 18th, 2007 at 10:00 pm
Of course T Boone is making way for PEAK OIL because he is LONG oil and try to get everyone to jump on it. I don’t know, they guy only made what like…1 billion dollar or so from oil? I trust T Boone as much as my chart ;)
May 18th, 2007 at 10:10 pm
Anyone who says, “We’re biased” is referring to more than one individual and is shamelessly plugging another source. I don’t think oil has come anywhere close to peaking. With the supply of oil being very questionable in the future, you will see it continue to go up, IMO. You have the violence in Nigeria and the socialism movement in Venezuela with Chavez and his state-owned oil firm Petroleos de Venezuela SA takeover of the Orinoco Belt projects. You have to take in account of demand of gas with the summer months and the US has been very fortunate with no major geological phenomena’s this young year. Now that was my economics background speaking. How dull am I.
May 18th, 2007 at 10:16 pm
actually i think he made it shorting natural gas last year who knows up or down? either way you can make money right? i’m bullish overall check this out (again its not our site) this paper was recently released on the depletion of saudi oil fields: http://www.theoildrum.com/node/2470 it’s pretty compelling, venezuala has a decent amount of oil but really represent just a small percentage of opec hey , i’m open to ideas so anyone who has info etc i’ll look at it –pk
May 19th, 2007 at 1:28 am
According to some people (e.g. here), electric cars are coming, soon. Further down the road there are solar energy, nuclear, fusion, etc. etc., a whole line-up of potential oil-killers. High oil prices and concerns over global warming provide the motivation.
I suspect that this “peak”, when it finally comes, will have aspects of a buggy-whip fire sale.
May 19th, 2007 at 1:57 am
Peak oil theory has been “compelling” for a loooong time. And it has been dead wrong for exactly the same amount of time.
Let me ask you this, when is the deadline? ‘Cause it keeps moving! lol first it was the 1960’s, then 70’s, then 80’s then 90’s….
… can we draw an unmovable line in the sand?
For me the peak oil guys are in the same category as the “fake moon landing”, gold is manipulated, UFO, etc. crowd. They all have “compelling” arguments. And they’re all stark raving mad.
May 19th, 2007 at 2:59 am
well you can always short the spikes, why not? could be a good move—in the meantime i guess i’ll keep trading the futures and i’m gonna put on my brand new tin foil hat—man, aluminum is getting expensive! ;-)