StockBlade Call’s Oil Direction And Warned To Avoid The Hype

May 29, 2008 10:19 PM

We called the drop in oil. Considering the hype and huge traders on CNBC saying “you would be crazy to trade oil here in either direction, it could go anywhere”, we boldly said this week that “if oil clears $130.50, it is going LOWER and it should provide a severe spike down”. Hmm…oil closed down $4.42 today at $126.62. I have never traded oil and never claimed to be an expert on it, but I know how the market works and how traders think. Either way, my call was 100% correct, the “experts” on tv that had “no idea” where oil was going were either idiots or liars. Could be either, as they say “no idea” which.