http://www.bloomberg.com/apps/news?pid=20601087&sid=aWzxKPItOMrA&refer=home guess this will just fuel the bears even more, they've been wrong all along
if his supply and demand analysis is right(the man got decades in the oil industry) then all the silly contrarians will just keep fueling the rise and he will cash in big. I sure he is right on the supply side the problem is the demand, how bad it will get
At least Boone realized the market is always right and crude is still a bull. He is probably playing both sides of it but I am wondering why he keeps telegraphing his positions so much recently. Seems like he may be getting too prideful about his recent short crude call and wants to be seen as getting it right now. Making public calls to me is probably the worst thing you can do to your portfolio because the market will make you look stupid (at least) half of the time and after awhile it starts to influence your trading more to look "right" than make money.
He funded Generalissimo Bush and the Swift Boaters. Calling him a trader is like labeling Cheney the same way.
believing what hedge fund managers and billionaires say on the airwaves is for nincompoops and boob tube nimrods.... Is there a rule that says you CAN'T lie about your position?
So he went short and was wrong, what makes anyone think just because he is long now that oil is going to even higher. No one knows where its headed, its already in a bubble, all commodities are in a bubble, oil just cannot continue to rise in this economy, it will come back down, I wouldnt be surprised to see it correct 25% in a couple of months.....keep in mine diesel prices in the northeast are over $4.25 and many, many truckers are striking causing the cost of goods to go even higher, so eventually something will have to be done to keep energy prices from moving up even higher. Get ready for a correction in all commodities....
Maybe... But it's not a bubble.. I think DX pokes it's head to about 70.15 or so, maybe under 70...and then it could run.. Check out EDZ, now forecasting rate HIKES by the end of the year...someone is sure right/wrong on this one.. Watch the USD...if that turns around, then yeah... Otherwise, it remains cautiously bullish... Are the markets too crowded yet?