Oil will not hit 100 before next summer.

October, not a strong demand for gasoline, not a strong demand for heating oil.


I like COP more than XOM, but don't like either in October. You will see
weakness in both for the rest of the month. If you want to snag them up for the
holidays go for it.

everyone has their own opinions. i look at COP and see that it is trading at
8.5 times earnings which is rediculously cheap. i see the nice 2% dividend. i
see that 15 billion dollar buyback which is huge. they are buying back more
then 10% of the company. if you want to try and get it a dollar or two cheaper
go for it. I look at the fundamentals and say its dirt cheap.

Nymph... I'm pretty sure when Jim made that
statement on the video he was implying that oil
would NOT go to 60 rather move toward 100.
Having said that my take was that Jim expected
COP to move back up, however, Jim responded
previously to this thread that implies he has
changed his position a bit I suspect due to COP's
margin press release.

I believe these all fit in that...

Analyst said COP headed down, Jim felt that was
wrong and now company, which knows best,
comes out with the margin statement so the near
term position changes. I'd love to hear from Jim
if he thinks I have that right or not.

Anyway assuming I've got it right. COP still good.
If you're down, hang on for a while or build
more of a position after it pulls back a bit (that
be me) but if you're wanting to start a COP position
then wait for the pull back.

Price targets anyone ???

Jon

Put in a limit order for $82; start your position there....and average down to
$79-80 if it goes that low

Not Jim...I can be wrong, but check out Cramer on Demand Video 2 days ago. He
said the analyst must believe that oil is going to $65.00..and if that is the
case you won't want to own COP ..but if you are in the camp with Jim and
T-Boorne (great name for a TV sitcom...sorry)...and think oil will go to $100 I
would say...pullbacks are very nice.

Let it rest for a couple of days. the refining margins are under pressure.. let
that work through. too quick to try to buy like many people here.