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Oil and gold contest update #2
Friday, May 23, 2008
This is update #2 for the mid-year oil and gold contest - it's been an interesting two weeks since the initial update and some of those oil guesses don't look all that crazy anymore. 
For this update, the price of oil is pegged at $132 per barrel and gold at about $924 per ounce. When it gets down to the end, the New York closing prices will be used to eliminate any question in determining a winner.
As it stands today, Atox has a combined error of just 1.41 percent, followed by Linda M and AWC both of whom are under 4 percent combined error. It's too bad that there are more than five weeks left to go for these contenders.
Perennial favorite tj and the bear is not far off in 9th place, needing about a $50 bump in the price of the yellow metal, and your humble scribe is in 16th place with a bold guess of $140 for crude oil.
The winner receives a free one-year subscription to Iacono Research where the model portfolio is now up about six or seven percent on the year after this week's gains.
Gains this week you say?
Yes, gains.
The model portfolio performance thingy in the left sidebar will be updated in a few hours with the exact figures.
To learn more about investing in natural resources using commonly traded ETFs, stocks, and mutual funds, see this description at Iacono Research. Or, sign up for a free trial.
3 comments:
As $4 per gallon gasoline becomes reality in Pennsylvania, Gov. Ed Rendell today announced that he will allow older gas stations to display half-gallon prices. This will not change the price of gas.
Some older, non-digital fuel dispensers cannot display prices exceeding $3.99. Until upgrades can be made, those stations will advertise half-gallon prices.
Fewer than 500 Pennsylvania fuel dispensers -- 0.4 percent of the state total -- might need the half-gallon pricing, according to the state.
To get temporary approval to display half-gallon prices, stations must order an upgrade kit that will allow their fuel dispensers to display prices over $4.
Perennial favorite? You're too kind!
Boy, about $120 and $975 looks to be the sweet spot in that chart. I'd take that as year-end prices for both --- nice gains to be had for anyone so inclined.
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