GREY:LSTMF - Post by User
Comment by
xblueboyxon Aug 23, 2015 10:42am
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Post# 24043628
RE:RE:RE:Dennis Gartman
RE:RE:RE:Dennis Gartmanthings go down too much, then go up too much. do you think oil is fundamentally valued at 40$ when 50%(ball parking here) of production is at a loss? No? But we are here right? SO while you think $50, $55 may sound reasonable fundamentally, when the ralley comes, the media will be hyping it with so much flavour, and citi group and morgan Stanley will come out with outrageous calls for oil to hit $100 because we have destroyed too much supply, and now we may be going into shortage (just like they are lying to us now saying oil is going to 10$). so it may very well temporarily hit 70 or 80, thats how the rigged stock market works. only question is when. we like nice neat boxes where things go in straight lines and directions slow and steady. my friend, oil does not do that. understand where you are right now. right now we have a market correction on our hands, could be a brutal week. I am looking to by oil call options, but want to see the overall market pannick here settle a bit first.