David Braunstein

Fundamentals Don't Support Oil at $55-60 a Barrel

You are dead right and you are about to make a fortune. My target is below $30 per barrel. If you look at a monthly technical chart, you will see that the recent run-up in price is simply part of a bearish flag marking the half-way point down. When large sell orders came in from $145, a broker had to buy them at $30-$40 and then resell them at $50-$60. It's about over and the next leg down will shock everyone. Technically, the target is $20 per barrel. I would like to join you, but I'm too old to take on that much risk. Options can wipe you out even if you're right on price, but wrong on timing. Good luck!!