yank

Oil Stock ETFs See Reversal on Big Volume

Dear oil myth:
Sorry to burst your bubble but we have "many miles to go" before this commodity bull sleeps. A few facts to correct your misperceptions:
1. You say oil's recent rise has occurred in the absence of any supply demand news? I guess you missed this week's "memo" from the IEA which sais oil supplies will be considerably lower going forward. You may also have missed this little tidbit; Nigerian oil production has DECREASED 25% over the past two years. Not to pile on but I also read this week that China's oil imports this year have increased 32% over last year (this number was reported before the recent devastating earthquake which will almost certainly raise the number even higher).
2. As for the prospects of a rate hike in June, all I can say is what drugs are you taking? There is ZERO probability of that happening. Most respected economists agree that once the Fed finishes its easing cycle (may or may not have happened yet), the full effects of the easing are not felt for at least 9-12 months. Translation: Don't expect ANY possibility of a rate hike until the end of the 1st quarter of 2009 (at the earliest).
3. Let me conclude by stating that you are obviously unfamiliar with the work of Jim Rogers. Rogers has very clearly stated that this commodity bull market will last at least another 10 years.

Dream on about lower oil prices, an Obama presidency, etc......
Because that's all they are. Dreams.