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ogbull

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ogbull

Re: None

Wednesday, 01/07/2015 9:53:37 AM

Wednesday, January 07, 2015 9:53:37 AM

Post# of 4109
The Saudis are not stupid. They are not going to pump oil and run the price down too much lower. At $50 for Brent, many producers will be loosing money and must close down. Production will drop to meet demand and the Saudis will realize a fair price for their oil. There is no reason for them to push the price down any lower than it is now. Crude has found its bottom.

RIG will bounce up and down due to too many daytrader.

Best bet is hang tight and ride out this market nonsense. We'll be back about $50 share by the end of the year and you'll double your money.
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