Buy Oil in mid March
Submitted by THE O-MAN on Wed, 02/06/2008 - 19:11.
87.05 WTI crude = 51.05 on the (OIL) ETF. There is talk
of $80 oil on Bloomberg, but I doubt that we will see $80 oil anytime soon. Inventories doubled what they were expected to be and oil is only down 1.49% from yesterday.
According to Goldman Sach's oil has quote "held the line" compared to past Januaries when has typically gotten slaughtered. If you look at a chart of oil February and March are usually where oil prices start for the run up to Memorial Day weekend. After memorial day typically you want to sell off you oil positions in favor of natural gas? Does anyone disagree with this strategy or have any basic suggestions that we should consider when investing in oil.
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