G. L. Turner

Roger Wiegand: Oil to Reach New Highs by Year-End

Yeah, this guys is having lunch with the idiots at Goldman Sachs and is drinkng the same kool-aid. Remember, GS is responsible for the excessive commodity bull market with the promotion of their GSCI which they really got moving in late 2005. Their "analysts' are anything but independent are are in business to 'predict' the self-fulfilling future that their trading departments demand of them...Interesting how many fools follow thier nonsense - like MS and JPM and AIG - BTW are all these guys either under are headed that way...do no think for one moment that it was all bad paper that these WS firms were holding that were draggin g them down, they lost their shirts this summer and last/this month when their view of the world (ie. commodity prices) caused us all to go off the cliff....The Saudis have stated all year that $88 oil is what we should have and this is where they will prop it up by the end of the year if OPEC prevails...and all that sideline money - it ain't rushing back into commodities...plus we are going to have position limits...So, look at the source of the article and the sources he is using to support his predictions...he is hoping it will will go up becuase he went long in June for 6mos..Buh Bye!