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Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Monday, April 09, 2007

Crude Oil Quickie

After a bizarre meet with Pres. Ahmgonnabebad, the 15
Brit mariners were sent home with pink goody bags late
last week. Today, Iran started hyping its ability to
produce larger amounts of enriched uranium. The market
ignored this latest price kite job, and continued to
sell off crude in the wake of the capturees' release, with
oil down over $5.25 bl. to $61.50.

April is a strong seasonal month for crude and I am hoping
the geopolitical bunkum will stay quiet long enough to get a
good fix on supply / demand fundamentals. Tame fuel prices
would take pressure off the global economy, so let's see if
we can get a clear read on these markets in the weeks ahead.

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