We always wish for money
We always wish for fame
We think we have the answers
Some things ain't ever gonna change
--John Waite
Not sure I've ever felt this bullish on energy--the commodities more so than the stocks. Couple supply destruction with our increased propensity to blanket the globe in fiat confetti and the secular story seems quite bullish from where I sit.
While the time horizon for my thesis is measured in years, it does appear that crude's trying to put in a bottom around these levels.
A technical tell of a change in tone would be if/when price decisively creases near term resistance at about $50.
position in oil
Wednesday, January 28, 2009
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