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19,089.60
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0.65%
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bliz82

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bliz82

Re: bliz82 post# 257

Wednesday, 10/29/2008 10:27:55 PM

Wednesday, October 29, 2008 10:27:55 PM

Post# of 361
Oil was around $100 when I wrote this in April. Now it's down about 33% actually. It spiked briefly as high as $147 but now it's down to where I thought it would be by this winter. OPEC is working hard to get it back to at least $100 but for now, it's not working. A lot will also hinge on the future direction of this country.

Oil is extremely overbought right now. I'm going against the grain here and saying oil will come crashing down in the next 3-6 months by at least 25%. Traders have created too much froth here imo!
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