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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Salt'n'Peppa who wrote (123025)8/5/2009 10:43:26 AM
From: GREENLAW4-7  Read Replies (2) of 206304
 
A good friend who tracks this inventory data on a monthy and yearly look. He e-mailed me a note that Current Glut of crude is now 25% higher then when crude hit its low of $9.80.

He has a target for USO for below $15., and Crude for $35-$38 for Dec 2009.

Said too many traders thinking demand will come back by fall, and when it does not he says bottom will fall out of Crude by end of year.

$35-38 is the more bullish look, he gets as bearish as below $30 on break of market.
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