No Prediction
From today’s AP:
“While oil prices are around 80 percent higher than a year ago, they are still more than $27 below the peak inflation-adjusted price reached in 1981. Still, many market observers say prices are likely to continue to skyrocket because of continuing supply concerns. “It’s a small correction just before the winter season. It’s November (delivery), the December, January prices will be more expensive,” said Misui Bussan, chief commodities strategist for Tetsu Emori in Tokyo.”
Unlike Mr. Emori, the great trend followers freely admit they have no idea what direction oil will continue in. They do know they can only make decisions based off today’s price movement.
