Tuesday 30 October 2012

With Hurricane problem, oil reach new low of $84.66?!

Dear Friends,

You may be surprised why with the hurricane problem in US today and with the supposedly winter season demand, oil prices still drop to its low these few months. Doesn't seem logical, right??

If you have been following our blog, this may not be surprising. In fact we have been asking all to short oil and energy stocks since september. You would have made great money on our call.

The main reason of this decline is that 97% of Energy stocks has reached our bullish status. History for these past 5 years have shown that this is the highest figure recorded, which means it has reached its peak! This drop is not because of demand and supply of crude oil. None of it, it is purely because of energy sector peaking!

Look at our article:

We think that there is a good possibility of oil dropping to $80 in the mid term. Especially when energy stocks has turned bearish now in our market sentiment indicator.

Going long now for the mid term would be suicidal.


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