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littlejohn

12/19/08 11:50 AM

#6506 RE: mick #6498

It wouldn't surprise me to see oil back in the 60 to 70 range by the 2nd week in January...

It has been my guess all along that many got bailouts that overspeculated in those markets last spring and summer...

The fallout has to be overdone to the downside as most shakeouts usually do...

Shipping, air, rail, and daily driving along with heating and cooling homes and businesses keeps oil and gas demand in a bare necessity category for many...LJ