Monday, November 20, 2006

Short oil strategy

Back in May (or was it April), I predicted that oil was waaaay overvalued, and that fear and confusion were driving the price of crude barrels to unsupportable levels. Right after I posted, oil jumped another $10 -- thanks, Lebanon! -- and I thought, "gee, I'm glad I don't follow my own investment strategy."

OOPS. Oil just hit $55 a barrel, a new 17-month low.

[How about that prediction that the 49ers -- you know, the team that just crushed your Seahawks -- would go 1-15? --ed. I don't want to talk about it.]


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