20.08.2008 - Commodity carnage: Where to turn next?
From Seekingalpha.com: There's nobody like an investment banker to deliver yesterday's news tomorrow, and charge you dearly for it. Goldman Sachs has turned bullish on the dollar, while Merrill Lynch is calling crude oil down to $80.If bandwagon jumping was an Olympic sport, these guys would have more gold medals than Michael Phelps. After pumping up the commodity and Euro bubbles all year, a whiff of a bear market and they shamelessly perform a high speed U-turn. Even more amusing is the sudden discovery by the CFTC, which bent over backwards to convince Congress that oil prices were set by fundamentals, that it underestimated the share of trading accounted for by financial speculators..... Full Article: Source
Print