Crude oil top at $99, market is perverse

Discussion in 'Trading' started by detective, Nov 27, 2007.

  1. Everybody was looking for $100 oil and it seems like CL has topped out at $99. The market is perverse, isn't it?
    I expect crude oil to go back down now and flush out weak longs down to $80 or so. Long term, I think crude oil is going much higher, but with the US market in a bear, it will keep a lid on crude for a while.
  2. $120 within 2007.
  3. Funds know that 'the sheep' will be trying to push oil to $100 just for the hell of it.
    So they are selling and shorting.

    'The sheep' are too dumb to know they are being played with.

    This is how they re-distribute money from the fools to the smart rich.