Stock Pick by Zack Aronson

OIL: OIL heading down

Start trading OIL with real money!

Rate Analysis

3 ratings

Posted 535 days ago on 6/04/08

Market call:OIL will go DOWN
Target: $70.00 on 7/04/08
Current: $26.03 (-64.94% from time of market call)
Close: $80.65 (8.62%)
on 6/06/08

The FED has shifted position from rate cutting to advocating a stronger dollar and limiting inflation. This means the price of oil should drop, as the dollar and oil seem to move inversely. Also many people such as hedge fund master George Soros has suggested that oil and other commodities are in a bubble. I expect a steep drop in the price of oil within the next few weeks unless we get more bad financial news, which may be possible.

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Dan Smith

Posted 6/6/2008, 10:38 am

"unless we get more bad financial news, which may be possible"...

This has happened, as it always does right after I put in for an oil short, lol.

Zack Aronson

Posted 6/4/2008, 4:09 pm

I like the 1 star rating, I am sure it was an oil bull. Did any of you morons see what this ETF did today?

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