Mark your calendar: Oil may drop to $30 in March

This anal-yst has a month and a half to prove himself on this bold call...

Feb. 14 (Bloomberg) -- Oil will drop more than 30 percent to $40 a barrel in March and may drop to $30 as rising prices for storing crude lead to a `breaking point' that forces speculators to sell, Sanford C. Bernstein & Co. said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aGufnFpahVqU&refer=home

 

Oh great that just means to Dow will be @ 15000-20000

 

this reminds me of the guy on bulls and bears about 3 months ago who said oil would be trading at 100+ a barrel with $4-5 gas prices. Its just a big joke.

 

I agree. I think that is quite possible giving that the transports are already up over 10% on the year. If this does happen expect the Transports to trade at 6200- 6500 and IYT 120-130.


DOW 15,000...agree, maybe even dow 22,000.

 

yeah - and it will be 10 bucks in April.
Never mind the marginals - who uses oil nowadays....

 

Free oil for everyone by June.

 

if oil were to drop that much would other commidities follow suit?

 

Natty would certainly trade at $100+/MMbu as suggested above.

 

its very weak right here. the recent bottom (the real bottom) may be tested and probably hold support, imo.

 

oil is going to be going up over the next few months