Quote:
Originally Posted by FakeNameChanged
While the futures this morning are down(again) on $WTIC, it looks to me like it's close to a bottom. One of my best investments several years back was shorting oil when it hit $110/bbl. This is mostly a gut feeling, while all my indicators are mixed. IF the market does reverse(big IF), then it will need energy to fuel the expansion. Since wind, sun and atomic power sources aren't really too invested in the markets yet, we're gonna need a glut of oil. And I read all the "energy/oil experts" reports, and they all contradict each other. For now, I'll remain on stand-by.
(edit)-I see a 1 to 2 year target at $53 /bbl.
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Since posting this 3/30, oil jumped up 40% but futures this morning say it's taking a breather, which is good IMO.
