Thanks for your opinion.
I could see it testing and breaking the 12000 level by the end of 2008, if they really enforce naked shorting. Though we just made a new short term bottom from july's this is still much higher then the 3 yr bottom. 10000 would be a big nut to crack, but if it does how much lower you thinking it will go in the next 1-2 yrs?
The oil price this year was a scam, but with alternatives coming to the market and if you think low gdp growth i don't see the argument for 200, when in my view the oil scam should of never ever hit 1.40, it was complete manipulation. The cost to make synthetic oil out of coal is 50-60/per barrel.
If the growth slows and gets worse, then I think there will be a further demand destruction for oil while others look to cut costs and increase profits using other energy sources.
just my ramblings, have a great weekend.
