How low can we go? I think we're at the bottom because I'm highly leveraged on a short position...Anyway I'm not so sure we're not headed back down to the 2008 low at some point in the next 18 months. I think we'll see $50 before $60 though.
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Yesterday the CEO of Enerplus was on BNN and he predicted oil could likely bottom out around $40. He is basing this on the oil production of OPEC countries. -
Dont think it will take 18 months to find bottom. 50 was my number a while back maybe conservative and looking like the o8 low may happen. If and a big if it goes below that we have got a serious serious situation happening. Personally I'd be nervous about a short from here on out the big move already happened.Comment
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I just wish when wheat prices drop in half it would get this much press.Comment
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