that energy is in a secular bull market that will continue longer than many expect.  i have enacted this view by trading coal stocks and oil service stocks from the long side primarily and will continue to do so.  however, more immediately i surmise there may be a significant correction as the levels of fear, dire observations, energy bullish news articles and the like has reached fever pitch.  accordingly, i am in process of writing near term call options on oil service etf's (oih) as well as on btu (coal) which is a long position in our portfolio...

pickens, whom i admire, also has extensively made the secular bull case for energy consistently over a long period of time (to wit: he's been bullish e since my bar mitzvah).  however and caveat, his appearances on cnbc seem to increase exponentially as sentiment approaches fear to panic.

similar to how many became extremely usd bearish near what now appears to be a cyclical bottom, so to might some here have a tendnecy to become overly bullish on oil just as a cyclical correction approaches...

perhaps tomorrow a spike and key reversal begins trailing oil back to what technicians would call a higher low...

I received three emails concerning oil from a friend of mine who runs a hedge fund

Does your friend want oil price forecasts?

with respect to CNBC?

That they know the reason for this spike and are afraid to say it, or that they're simply clueless?

A United Nations ban on oil tankers that use a single layer of steel to separate their cargo from the sea, a policy that took effect on Tuesday, may leave the industry short of tankers, a leading ship broker has said.

A tanker with just a single layer of steel is a bomb.

Europeans build ships too.

I've been long for a while in shipbuilders.

I've been touting this:

and could somebody finally return the removed comments to my diary. People can't learn anything with only 60 days history information in economics.

accomplished short seller and all around good guy doug kass wrote today,

"It is interesting that crude oil is higher in the futures market six months out now, as compared to the current spot price, a condition called contango....  I would not be overweighted energy stocks now. It is reminiscent of steel stocks when U.S. Steel traded at $61!" (sorry, no link)

this phenomenon can be viewed as one reflection of the present extreme bullish sentiment in energy markets that i took note of yesterday in the post i am responding to...

passing along info that was linked in ways wanted to share some of his own thoughts with me. I thought they might generate a littel conversation here so I posted about them.

to dig deeper into the supply side of the equation and help its viewers to better understand just how little EXCESS capacity there is in the world. The CNBC folks aren't clueless, well, except for Kudlow and Kramer. They just missed an opportunity to educate their viewers better. Nothing more, nothing less.

have agenda but they much smarter guys then you think...

and will have a solution in a few days. I know it is frustrating.

and take my baltic dry

I appreciate progress more than schedules.

but HAVE YOU SEEN Kramer's new show? Talk about a media disaster?

Look, I realize they are smart, that doesn't mean I have to like and/or watch their shows.

it usually is. But no idea who these K&K are.

"If you don't know who is being fooled it is probably you."

I am doing my best to motivate the tech team on this one. I realize how important it is to the whole idea of The Agonist. It'll get done, and soon!

especially in this point when my market calling track record exceeds clearly the long average of the  simulation period :-)

in what those whacky technicians sometimes call a "key reversal" day...

http://www.thestreet.com/_tscs/stocks/elinorarbel/10216482.html

in the face of goldman's call, the imf, fear and loathing, pigs jumping from windows... you must know pickins was a seller last week and a buyer here...  wait another few months when oil makes another higher high, youll see him  on the squawk box again and he'll be hyping 100usd/barrel and selling futures like the lonestar dog you know he is he is....

http://stockcharts.com/def/servlet/SC.web?c=$WTIC,uu[h,a]dacayiay[da][pb50,200!d20,2][vc60][iut]&pref=G