Oh give me a break. Goldman Sachs says oil can hit $27 a barrel, and then they trot out their spreadsheet this morning that says we will have $1.8 trillion of credit losses, and now we are just halfway through.
The dollar reversed today, and oil is ready to due the same. But you won't get any help navigating through this morass with these Investment Banks. Just ask United Airlines, who hedged their fuel costs this year with help from Goldman at $137!
Now we have oil with a 37 handle, with the ten year rate at 37 year lows, and no one is beating the drum to buy.
JPMorgan helped grease the skids by downgrading infrastructure this morning, and Deutsche Bank, that couldn't make a right call even if it hit them on the head, helped by downgrading tech. And then you had the tag team trillion from Goldman.
So what do you do with oil here?
You buy it.
You buy it now.
You buy it in size.
And you have one of these brokerage firms, who are so bearish on oil, sell you a swap to hedge your fuel costs, so at least then, for once they'll eat their own cooking.
$1.8 trillion in losses have you scared? I guess that's a market. I'll take oil here on the 18th. After all isn't 18 the number of life?
And there is life in the oil market!
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