23.02.2009 - 12 reasons I'm still buying oil
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
Print