Petroleo Brasileiro S.A. - Petrobras (PBR): Right a start at best. I think $30-32 i...

Petroleo Brasileiro S.A. - Petrobras (PBR)

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Re: Buell post# 466

Wednesday, 10/27/2010 12:52:28 PM

Wednesday, October 27, 2010 12:52:28 PM

Right a start at best. I think $30-32 is pretty safe based on the technicals and agree completely that until oil starts its next break out most energy stocks won't have any serious upside movement. However I don't assume that will be too far off in the distance based on reputable oil price projections.

"Goldman Sachs and Morgan Stanley predicting that oil will hit $100 next year... that's a realistic projection because supply is at about 85 million barrels a day... the only way to control the demand will be through price" -- T Boone. Pickens, Billionaire Oil Man

This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so do your own due diligence before and consult a licensed professional making any decisions.