Wednesday, January 28, 2009

Tickle Me Elmo

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

No comments: