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Bernanke is like panic-stricken amateur pilot trying to crash land a 747, ergo, the spike in interest rates this past week; slamming on the brakes to stop the dollar from going off a cliff. the chinese were buying oil and other commodities like crazy with the buck free-falling.
Jun 12 23:30 pm
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All Comments by jfrits »4 Ways to Ride Oil's Ups and Downs [View article]
but they, like other asian govts. are very price sensitive, and the recent demand for stocking up on oil and other commodities in the emerging markets could vaporize as oil tops $70. meanwhile the summer driving season is a bust, so i heard on fox business today that valero has just shut down a domestic refinery due to lack of demand for gas. so the chinese and others will return to buying u.s. paper for the windfall higher yields. so my guess is lower oil prices by winter, not higher, say $40 bucks give (+10) or take (-5)?
i could be wrong. iran and israel could stumble into a nuclear war, there could be a nigerian govt. coup, etc. etc. but then would not oil be boring if not trading on riveting world political developments? bring on the 3x direxion crude ETFs! trade on!