Shorting oil would be a major contrarian bet. I haven't heard a bearish call on the commodity or the stocks from anyone I would take seriouslysince in years. It's obvious that our economy needs the shot in the arm that significantly lower fuel costs would bring. The $Trannies would take off and the Dow could easily burst past the pre-9/11 trading range if oil threatened to fall back to the range where OPEC claims they would like the price to stabilize. The business media hype is selling the idea that oil could only trend down from here if there is a major global slowdown. I'm not buying into any of the election related manipulation theories. Finally there's a conspiracy theory that I reject out of hand. Watch out, I'm a pretty good contrarian indicator myself.
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