CNBC earlier analyst talks about US increasing strategic oil reserve as whats propping up oil price. Analyst didnt understand why we were doing it but once filled a potent part of demand is removed. Another analyst said earlier that he expected oil to be in the mid 20s eoy. So perhaps the oil bubble bursts when we finally fillerup.
CNBC a few minutes ago. Respected analysts whose name escapes me says we are in full fledged correcton that should last at least thru end of month or for a month longer--not certain. But he also said sox may have already bottomed and that values there were compelling. The usual suspect analysts are all saying out of tech and into defensive issues, health care etc. This other analyst is saying the truck is being backed up for sox as we speak or at least the trucks engine is turned on.
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