Of course, if too many people begin using reverse-logic, it will be time to switch back to logic mode. ndibari73, you should start charging tuition for this.
So logic says that oil will come back down.
But, and correct me if I'm wrong ndibari73, it was you that adroitly pointed out that oil was in oversupply with prices in the 90-100 dollar range. I'm just following the ndibari73 rules of correct thinking.
I waved the surrender flag the last time it surged over 30. I've been making a killing in UWTI. It makes no sense. But I'm learning to think counter-logically. It's hard for me, but it's working.
On the other hand, if you think 1+1=4 and have ADD coupled with mild schizophrenia, you have what it takes to create wealth in the markets. See Jim Cramer.....see what I'm saying? Are you like HIM??
I mean, I'm just sayin'.
nononsense301, that is what I was thinking as oil slumped into the 30s and 20s. You have a logical thought process. But the oil market is controlled by traders. Thus it is ruled by greed and illogic. This makes it difficult for logic-based people to make money in markets.
Barrons just reported that Russia and Saudi Arabia have reached an agreement to freeze production at January or February levels. This is unverified, of course.
If this IS true, you guys just bought a ticket on the joy rocket.