Friday, October 19, 2007

Black Gold

Oil prices surpassed $90 a barrel for the first time Thursday as the falling dollar drew new foreign investors and speculators to dollar-denominated energy futures.

Intercontinental is a derivatives exchange, which is where oil trades, and that means ICE makes money every time there’s a trade.

Crude oil now seriously overbought - Expecting Declines.

3 comments:

Bluedog said...

ICE is a great company. I'm crossing my fingers for an acquisition by NYX. I've owned both but am currently in NYX.

-BD

Kevin H said...

I've always been a big fan of ICE.

Looks like a good time to get in on ICE.

Dinosaur Trader said...

Oil overbought? No way... remember the $80-$120 thing.

Also, we're going to war with Iran via Turkey. We said yesterday that military action would be "our last resort." I remember when the idiots said that about Iraq too...

Don't delete this shit. I'll get "fly" to melt your blog.

-DT