Oil Price to around $100 and Market Correction are Coming

On this site, I predicted the decline in the price of oil when everyone was freaking about $140/boe. Here is yet another prediction:
- Oil will be at around $95 by the beginning of the Summer
- There will be a fairly major market correction coming within the next month.

So let’s talk about the first: The DOE says that there is 2x more likelihood to see lower prices vs. higher. So why would I go against what all of those very highly paid economists in the gov. are saying? Well, you see, although Gasoline production is just a part of what we use oil for, it is an indicator of activity in the economy.  There is a lot of activity prior and during a recovery that you might not have during normal times.  March 2010 set a record in both gasoline demand and gasoline production. If that trend continues, when the summer gas utilization kicks up in its normal cycle, you will see a counter-reaction in the price of oil.  I can easily see it at $95, hitting $100 during the summer.  I was right when I predicted the drop in the price a while back and I think I will be correct now.   The beneficiaries of this will be the oil producers.  Go ahead and buy their stocks.

Now for the second.  The stock market is growing at a fantasy clip, not matched in any way by the economic indicators.  With 1 in 10 of us unemployed and not hopeful, and with talk of a double dipper based on our unsustainable debt, the market at some point has to look at itself and correct.  I don’t think that the correction is going to extensive, but I do think it will be painful.  And I think it’s coming in the next four weeks.

Peace!!! (thru Strength).


April 2010

3 Responses to “Oil Price to around $100 and Market Correction are Coming”

Kylie Batt Says: May 4th, 2010at 3:32 pm

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On this site, I predicted the decline in the price of oil when everyone was freaking about $140/boe…..

Kylie Batt Says: May 12th, 2010at 7:57 am

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So let’s talk about the first: […….

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