Oil Crash Graph

Saturday, October 10, 2009

This is the most impressive downtrend I have ever seen. Oil is being decimated every week. Can Oil keep imploding? I doubt it. There will be a major upswing in the near term. Look for 50 dollar oil in a few weeks.

I have seen some scary projections, some predicting a 10 dollar oil. That is a complete nonsense. They sound like those calls to 300 dollar oil in the summer. Its the same thing on the opposite side. Its time to BUY OIL.

As JIm Rogers says Buy Panic and Sell Hysteria. This is clearly a panic mode crude oil market. It always pays to go against panic.


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