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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Kenneth E. Phillipps who wrote (85228)1/5/2007 1:12:40 PM
From: Hope Praytochange  Read Replies (1) of 173976
 
FIR: Oil Prices to Return to $40

Oil prices sank below $55 a barrel today. That’s a 10.4 percent drop just this week and oil’s biggest weekly decline since April 2005. Oil prices have plunged 30 percent since its high of $78.40 in mid July.

Mild weather and swelling inventories are outweighing OPEC’s planned production cut in February. Up until last week, oil was trading around $63 a barrel based on OPEC’s production announcement. What a difference a week makes!

Financial Intelligence Report has been telling subscribers that $60 and up oil prices can’t be sustained. In fact, FIR is predicting that oil prices will once again regain their $40 a barrel prices.

Back in September 2005 FIR said, “If we are right in our conviction (of falling oil prices) . . . we are about to embark on a punishing bear market for certain oil stocks.” A year later, oil prices have plunged more than the 20 percent decline that generally marks the beginning of a bear market.

And FIR put its money where its mouth is. In its latest edition of special report “Four Ways to Profit from the Oil Bust of 2007,” FIR recommends a long-term LEAPS put option on an oil sector exchange traded fund (ETF), shares in an airline that manages its business well in the face of high oil prices, shares in an ETF that has been beat down but will rise from the ashes as oil prices fall, and shorting shares of another ETF that will likely collapse when oil prices plunge.
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