Thursday, June 23, 2011
Weren't Oil Prices Supposed to Go Up?
As oil prices hover around $90/barrel I can't help but remember it wasn't that long ago that oil was above $100 and certain to go up. Just about everyone agreed, the only uncertainty was how far and how fast. Now I have no idea what direction oil prices will go, nobody has a crystal ball, me included. That is the point. Nobody can predict what direction markets will go in, all you can do is react to what they are doing and stay in harmony with the trend. The trend in oil is down right now until it isn't. Please note I am not recommending that anyone short oil, just making a point.