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Energy ETFs Down But Still Overbought

A report issued tonight on the NBC Nightly News, stated that oil could reach $200 a barrel in the next two years. Sure it's a media news report quoting a so-called "expert." We shouldn't give it more weight than it deserves. But could this scenario actually play out? Yes, it is a possibility. Would these ETFs then be considered "overbought" when we all stumble upon this article in the 2008 archives? Perhaps not. Bottom line: It truly is anyone's guess.