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Commodities Briefing - Categorized | Investment, Oil more

12 reasons I’m still buying oil

Posted on 23 February 2009

From Seekingalpha.com: Gold has skyrocketed and oil has dropped like a rock in the last few months, in case you were in a closet. Here’s why I am long oil (USO) and am getting longer on dips:

1. Oil has come down about almost 80% from its high. (I understand that there was overbuying because JP Morgan (JPM) was highly leveraged and was technically manipulating the market, but it worked for a reason.) 2. Oil is a commodity just like Gold and Silver, making it an international currency. 3. The Federal Reserve Bank is leveraged 75:1….. Full Article: Source


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VRS - who has written 37583 posts on Opalesque Commodities Briefing.


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