Go Bears!
No, not the Chicago bears but the market bears at the New York Mercantile Exchange and other boards where oil oil futures are traded.
Oil IS in a bear market, in other words one can say the bubble has burst on oil. I and many respectable analysts out there (not just Lance, but some who are paid to make such observations and prognostications) said the same thing, oil was overpriced. That overpricing I believe is one of the factors bringing on the economic slowdown.
Now, just because an item goes into a downturn does not mean it can not recover and as I state ceterus parabus I believe gas will make a serious run at $5.00 a gallon. That I hope is wrong on the high side.
Oil IS in a bear market, in other words one can say the bubble has burst on oil. I and many respectable analysts out there (not just Lance, but some who are paid to make such observations and prognostications) said the same thing, oil was overpriced. That overpricing I believe is one of the factors bringing on the economic slowdown.
Now, just because an item goes into a downturn does not mean it can not recover and as I state ceterus parabus I believe gas will make a serious run at $5.00 a gallon. That I hope is wrong on the high side.
posted by Marcus Aurelius @ 7:05 PM
<< Home