Looking at the chart below, I was never quite sure what was in “their” models back in July, but that’s of no concern to anyone anymore. Been there, done that.
As global stock market volatility continues to decline, so will the propensity for investment banks to allocate capital to “prop” traders who want to lever their brains out buying everything “Chindia-Oil.”
Alongside the drop-off of players in the game, enter the hockey players from New haven. With the fundamental backdrop of our “Re-Flation” Investment Theme for early 2009 and a swooning US Dollar, we think we can trade oil very comfortably within a range of $37.11- $51.70.