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The Great Forsini predicts:

$3-a-gallon gasoline by April 23.

Comments

( 9 comments — Leave a comment )
nodressrehersal
Mar. 27th, 2009 02:18 am (UTC)
Dammit, you're probably right on the money- it's creeping up daily. $2.14 - $2.19 last I looked.

But Great Forsini, why April 23?
patrick_vecchio
Mar. 27th, 2009 02:28 am (UTC)
Reply hazy. Try again.
cwmackowski
Mar. 27th, 2009 02:26 am (UTC)
That will suck.
patrick_vecchio
Mar. 27th, 2009 02:28 am (UTC)
As I see it, yes.
scuba_sham
Mar. 27th, 2009 02:43 am (UTC)
Glorious.
nokomisjeff
Mar. 27th, 2009 10:01 pm (UTC)
If you really believe this guy, May gasoline closed today at $1.5027/gallon. Accounting for the profit that the gas station makes per gallon, and taxes, there's a good chance that gasoline at $3.00 would be trading in the $1.75 range on the futures markets by May. a 25 cent move is huge and one could make some decent money trading a move like that. Right now, oil looks very friendly on the demand side as the world seems to be showing signs of the recession bottoming. Frankly, I would probably take the other side of that trade and spread it out.

Jeff
patrick_vecchio
Mar. 27th, 2009 10:33 pm (UTC)
When I told the Great Forsini what your response to his prediction was, he replied, "You may rely on it."
nokomisjeff
Mar. 27th, 2009 10:41 pm (UTC)
You ought to check out my trading blog that's linked over at S&R. I'm having a contest with a friend of mine that has never traded before, and believes in the predictive nature of chart reading and technical analysis. As this has never been scientifically proven, I made a small wager with him that we'd both set up separate accounts trading real money. He is using his technical analysis, and I'm using the Magic 8 Ball for my guidance. Guess who's winning:)

Jeff
patrick_vecchio
Mar. 27th, 2009 10:49 pm (UTC)
That is laugh-out-loud funny. Except for your friend.
( 9 comments — Leave a comment )

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