Price Of Oil Skyrocketing Again
just kidding
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From: Why-homing
$80 oil lurks
Growing demand, tight supplies, turbulent geopolitics, hurricane season - a witches brew for crude prices.
By Steve Hargreaves, CNNMoney.com staff writer
July 11 2007: 10:09 AM EDT
NEW YORK (CNNMoney.com) -- Oil prices are again on a tear.
In the last four weeks, U.S. light crude oil futures have jumped about 12 percent and are now trading some $6 shy of the all-time trading high of $78.40 a barrel for a front-month contract set last July.
Special Reportfull coverage
$80 oil lurks
Crude eases before inventory report
Saudi leader: Oil out of whack
Agency: Oil demand to outstrip supply
Gasoline in-depth
Where's the gasoline?
Refineries are making money like never before, so why aren't more people getting in on the action? (more)
We want it all
Consumer Reports survey shows that car buyers aren't ready to sacrifice much for more mileage. (more)
6 ways to cut gas prices
From a big fat tax to more efficiency to boosting production, there are ways to do it - but which really stand a chance? (more)
Fuel economy wimps
Instead of ensuring that we use less gas, politicians and consumers take the easy way out, says Fortune's Alex Taylor. (more)
Video More video
Iraq's oil minister insists the future is bright despite bloodshed, bickering and oil industry doubts. CNN's Hugh Riminton reports (May 5).
Play video
So, with both the geopolitical scene and hurricane season heating up, will we see $80 oil in the next few weeks?
"I don't see anything blunting the price rise until it disrupts our way of life," said energy analyst Mike Fitzpatrick, who's firm Man Financial has an $83 target price for crude by the end of September. "With the economy the way it is, that clearly hasn't happened yet."
Growing demand, tight supplies, turbulent geopolitics, hurricane season - a witches brew for crude prices.
By Steve Hargreaves, CNNMoney.com staff writer
July 11 2007: 10:09 AM EDT
NEW YORK (CNNMoney.com) -- Oil prices are again on a tear.
In the last four weeks, U.S. light crude oil futures have jumped about 12 percent and are now trading some $6 shy of the all-time trading high of $78.40 a barrel for a front-month contract set last July.
Special Reportfull coverage
$80 oil lurks
Crude eases before inventory report
Saudi leader: Oil out of whack
Agency: Oil demand to outstrip supply
Gasoline in-depth
Where's the gasoline?
Refineries are making money like never before, so why aren't more people getting in on the action? (more)
We want it all
Consumer Reports survey shows that car buyers aren't ready to sacrifice much for more mileage. (more)
6 ways to cut gas prices
From a big fat tax to more efficiency to boosting production, there are ways to do it - but which really stand a chance? (more)
Fuel economy wimps
Instead of ensuring that we use less gas, politicians and consumers take the easy way out, says Fortune's Alex Taylor. (more)
Video More video
Iraq's oil minister insists the future is bright despite bloodshed, bickering and oil industry doubts. CNN's Hugh Riminton reports (May 5).
Play video
So, with both the geopolitical scene and hurricane season heating up, will we see $80 oil in the next few weeks?
"I don't see anything blunting the price rise until it disrupts our way of life," said energy analyst Mike Fitzpatrick, who's firm Man Financial has an $83 target price for crude by the end of September. "With the economy the way it is, that clearly hasn't happened yet."
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From: Why-homing
year to date for me
Your cumulative personal rate-of-return during this period: 119.1%
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From: Why-homing
Conocophillips ticker is COP
Monday, Cramer suggested that investors take a look at Boeing (BA - Cramer's Take - Stockpickr - Rating) and Caterpillar (CAT - Cramer's Take - Stockpickr - Rating), the latter of which he owns for his charitable trust, Action Alerts PLUS.
Tonight, Cramer started his series by recommending ConocoPhillips (COP - Cramer's Take - Stockpickr - Rating), which passed the $80 mark on June 15.
Don't be dissuaded that the stock is up, because this is a buy-high, sell-higher theory, he said. COP has "genuine momentum" and is favored by big institutions. It's a market-anointed stock and a "magnet for money," Cramer added. Plus, while it's not an ace, king or queen of buybacks, it's definitely a face card now, with its recent $15 billion buyback.
"We're in some strong bull markets right now," and COP is a "great" oil company, Cramer said. "Oil cannot be stopped." Also, COP has its oil reserves in safe areas, including Alaska, Canada and the northwestern U.S.
Monday, Cramer suggested that investors take a look at Boeing (BA - Cramer's Take - Stockpickr - Rating) and Caterpillar (CAT - Cramer's Take - Stockpickr - Rating), the latter of which he owns for his charitable trust, Action Alerts PLUS.
Tonight, Cramer started his series by recommending ConocoPhillips (COP - Cramer's Take - Stockpickr - Rating), which passed the $80 mark on June 15.
Don't be dissuaded that the stock is up, because this is a buy-high, sell-higher theory, he said. COP has "genuine momentum" and is favored by big institutions. It's a market-anointed stock and a "magnet for money," Cramer added. Plus, while it's not an ace, king or queen of buybacks, it's definitely a face card now, with its recent $15 billion buyback.
"We're in some strong bull markets right now," and COP is a "great" oil company, Cramer said. "Oil cannot be stopped." Also, COP has its oil reserves in safe areas, including Alaska, Canada and the northwestern U.S.
Vegistrokin Bombardier
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From: Oklahoma
Hey Kevin, what ya think of Chesapeake Energy Corp. (CHK)
It was at 19 a little over a year ago when i started with it....
The went through a HUGE expansion this year which usually means slowed stock increases but i expect it to go to 90 within a year or less. (with any luck)
It was at 19 a little over a year ago when i started with it....
The went through a HUGE expansion this year which usually means slowed stock increases but i expect it to go to 90 within a year or less. (with any luck)
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From: Why-homing
Hey Kevin, what ya think of Chesapeake Energy Corp. (CHK)
It was at 19 a little over a year ago when i started with it....
The went through a HUGE expansion this year which usually means slowed stock increases but i expect it to go to 90 within a year or less. (with any luck)
It was at 19 a little over a year ago when i started with it....
The went through a HUGE expansion this year which usually means slowed stock increases but i expect it to go to 90 within a year or less. (with any luck)
any and all oil and gas related stock is the best right now......................most are running at or near their 52 week high but its still gonna make a feller a ton of money.....I say thru to 08 for sure then we can re-evaluate then.
I myself look for COP to split before 08 hits..........then we can do the climb all over again .....been there and done that now 4 times in the past with othewr companies...its where the money is at fer sure
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From: Why-homing
here's a 3 year weekly chart of COP
Clicky
i you like you change it a daily chart or change the symbol to CHK
Clicky
i you like you change it a daily chart or change the symbol to CHK
I expect more gain this next qweek but I dont think it will be that good
COP anounced Monday that they were buying back 18 million dollars worth of stock tween now and 08 so look for it to continually climb.............I wouldnt be surprised to see it hit 100
