Does this mean everyone dump their oil stocks? News flash - they've ALREADY dropped!! He's wrong about this too - oil steadys above the psych $60 level! http://data.cnbc.com/quotes/US%40CL.1 It's time to buy, but rest assured there will be many buyers tomorrow!
Factors to push oil up: - supply disruption in middle east - good earnings with DOW continuing bull run - oil companies give good results + forecast.
Summer will be a rally based more on fundamentals.