Monday, May 25, 2009

OPEC Minister Predicts $75 Oil

http://www.dailyfinance.com/2009/05/24/opec-minister-predicts-75-oil/

I know the bears are saying "RF, there is no way oil is fundamentally worth $75!" My answer to them is that there is NO way to determine a "fundamental price" for oil. When the US imports all of the oil from foreign nations and is dependant, the price can be anything, especially if missles or planes fly over Iran and Saudi.

I am long oil in big ways via WNR, DXO, DIG, HES, FRO and FTK.

Buy the dips in Oil and Semis - you won't be denied!

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