Mark your calendar: Oil may drop to $30 in March

[a529612]

This anal-yst has a month and a half to prove himself on this bold call...

Feb. 14 (Bloomberg) -- Oil will drop more than 30 percent to $40 a barrel in March and may drop to $30 as rising prices for storing crude lead to a `breaking point' that forces speculators to sell, Sanford C. Bernstein & Co. said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aGufnFpahVqU&refer=home

 

[myminitrading]

Quote from a529612:

This anal-yst has a month and a half to prove himself on this bold call...

Feb. 14 (Bloomberg) -- Oil will drop more than 30 percent to $40 a barrel in March and may drop to $30 as rising prices for storing crude lead to a `breaking point' that forces speculators to sell, Sanford C. Bernstein & Co. said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aGufnFpahVqU&refer=home

Oh great that just means to Dow will be @ 15000-20000

 

[S2007S]

this reminds me of the guy on bulls and bears about 3 months ago who said oil would be trading at 100+ a barrel with $4-5 gas prices. Its just a big joke.

 

[S2007S]

Quote from myminitrading:

Oh great that just means to Dow will be @ 15000-20000

I agree. I think that is quite possible giving that the transports are already up over 10% on the year. If this does happen expect the Transports to trade at 6200- 6500 and IYT 120-130.


DOW 15,000...agree, maybe even dow 22,000.

 

[dhpar]

yeah - and it will be 10 bucks in April.
Never mind the marginals - who uses oil nowadays....

 

[a529612]

Free oil for everyone by June.

 

[S2007S]

if oil were to drop that much would other commidities follow suit?

 

[dhpar]

Quote from S2007S:

if oil were to drop that much would other commidities follow suit?

Natty would certainly trade at $100+/MMbu as suggested above.

 

[diligent]

its very weak right here. the recent bottom (the real bottom) may be tested and probably hold support, imo.

 

[trader_rachel]

oil is going to be going up over the next few months