Monday, December 15, 2014 6:45:11 PM
Since OPEC is not motivated to hold up the oil price,
I think the free fall may continue.
Some are calling for $40 as the oil bottom...but that's similar to
$800 to $1000 bottom for gold. Could happen, but the longer the
gold stays near $1200, $1000 or lower bottom doesn't appear likely.
So I think similar could occur with oil. People are calling for $40
oil, but it may find support at $50, and its only few bucks from there.
I'm waiting for oil to get just little bit more closer to $50,
and then I like to play the call option on oil and also
consider NUGT/JNUG.
JNUG @2.00 is not a bad entry to try, as long as you have stop limit
at .05 or .10 cents below.
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