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It does not matter greatly what loosed the mornings selling spree. The OPEC monitors will notice the price drops and they will make adjustments, not necessarily official decreases in oil for sale, but decreases nonetheless. We are at or near an equilibrium point which will be artificially maintained by the Club. The random noise of traders attempting to play in the traffic will not be important until some of us notice that the supply of oil really is - long run - less than the demand for oil long run, then the scramble with be unsightly I fear. I am holding some longs based on that belief. Z
Sep 02 16:51 pm
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