$36 and change....sub $50's and STILL no LONG signal (what did I say!!!!!!!!!!). Demand destruction picture is STILL NOT clear.....be vigilant, and now that we are getting MUCH better pricing to start looking for buys take smart shots with only very good proven signals!!!
"demand destruction" theory is as spurious as the "peak oil" theory. The fact is crude was jacked up on manipulation. Yes, that is all it was. A oil man was president and his handler was in direct contact with all the manipulators. The manipulators were given easy access to unlimited credit/leverage which they kept on piling into crude. The oil man leaves office. His handler and his cronies took their profits near the highs when fools were posting their "peak oil" theories every where. The others who were heavily leveraged sold into margin calls, hence the over shoot to the downside. crude is becoming a buy at these levels. It will revert to the $55 to $75 area once the stupid money is washed out.