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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: westpacific who wrote (83381)8/18/2008 10:49:35 AM
From: Keith Feral  Read Replies (1) of 116555
 
West, good to hear from you. It was a bitch to make money on most of the energy names in the uptrend. It will be even tougher to make money on these names now that they are in a downtrend. You made a nice call on the DUG back in July. It really forced me to come to the conclusion that anything good that was going to happen to those names has been built into the stock prices with oil near $145.

Now, it's pretty clear that most of the commodities were in a topping pattern this summer. It will take more than a month to reconcile the commodity valuations these companies created by failing to increase production. Now, they are all jumping on board to increase nat gas and oil which is great for the consumer.
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