Back on 12/16/10, I guessed that oil could hit $110 bl. in 2011. We are there. And, I am gone
from this market on the long side after nearly a year of very profitable trades. I leave the chasing
to those of stouter heart. Oil is added to my list of potential shorts for some point in 2011.
At $110, oil only needs to travel up to $120 to return to a price bubble. It is in an uptrend now
that shall grow increasingly ominous for the global economic expansion and for the world's
major stock bourses.
Oil is now very strongly overbought. Oil price chart.
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