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DocLevi

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DocLevi

Re: chmcnfunds post# 131

Tuesday, 10/07/2014 8:45:44 AM

Tuesday, October 07, 2014 8:45:44 AM

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Its Doctor Dolittle time... pushme/pullyou ...
Push: Friday's WSJ OPEC Saudi's vowed to keep oil at $100/barrel
Pull: In Barron's this week page 21 "Follow-up" claims $75/barrel still looks good from supplies and stronger dollar to

Steve Briese, publisher and writer of the Bullish Review of Commodity Insiders newsletter, views a $75 target as too high, basing his outlook on the "enormous potential selling block overhanging the oil market" that is held by hedge funds. Since the funds are typically trend followers, the decline in price should continue to spur massive long liquidation that weighs on the price.




What next? With WSJ saying Saudi's vowed to keep oil at 100/barrel wouldn't that change the trend of hedge funds? No telling....
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