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[cindylouwho88]

I had dinner with my pal lonestaryankee last night down in Tacoma.  As I was leaving the restaurant, I couldn't help but almost drive off the road at the price of gas at the station accross the street.  And at a Chevron no less, not Arco.

Comments

[cindylouwho88]

What does he think I should do with my 401K?

[cindylouwho88]

My problem is that it's in a "FedEx" contract with Vanguard and I can leave it there indefinately, but I can't add to it. I'm trying to figure out what to do with it. Move it to an IRA? I take a penalty if I cash it in. I'm probably gonna just sit on it.

[cindylouwho88]

My Dad was funny on the phone today. I told him I'd lost roughly 3000 this month and he said "look away, look away". Just don't look at it :) Made me laugh.

[openmindedmale]

Buy low, sell high. It's not hard.. timing can be a bit of a bitch though :)

Re: $1.99 in Ohio--swing state

[openmindedmale]

I would disagree with your advisor, you won't likely see an oil crash. You may see some unusally low prices for a while (a couple years) because of a number of factors, but longer term, oil prices will go back to their previous highs and even higher.

Obviously a new mideast conflict will spike energy prices higher, and other things (such as a major devaluation of the dollar for example, and this may happen) would have other effects too..

I really don't think traders have any real control over the market.

Re: $1.99 in Ohio--swing state

[openmindedmale]

True :)

Knowing about the surge and the eventual crash wasn't hard though... it was clear to many, the only question was when, and the precise details.

With oil, it's been artificially high for quite some time (traders expecting it to be higher and so buying it, and so it becomes higher).. right now it's artificially low for similiar reasons. Ultimately it must go dramatically higher because worldwide energy needs are increasing but supply is decreasing... only a large-scale worldwide shift to other energy sources can change that, and that takes time and significant up-front investment (which, so far, hasn't happened, but may yet happen).

So, enjoy your cheap oil while you have it :)