Posted by califman4u on 26th of Dec 2008 at 11:04 am
Jcomp, thanks for the response. I don't really think it is
tied to oil at 2x as most would think. If so, it would be at
about 6 since its high was about 30 when spot oil was at
147. If oil went back up 5x from here it should conceivably
go up 10x, which would only bring it back up to 18, not 30.
At the current prices, it would seem to be moving 3x or so to spot
oil.
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Posted by califman4u on 26th of Dec 2008 at 11:04 am
Jcomp, thanks for the response. I don't really think it is tied to oil at 2x as most would think. If so, it would be at about 6 since its high was about 30 when spot oil was at 147. If oil went back up 5x from here it should conceivably go up 10x, which would only bring it back up to 18, not 30. At the current prices, it would seem to be moving 3x or so to spot oil.