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I read the headline as "Hikes Brent Forecast To $180 By QE3"
Why do equities and forex brokers' recommendations get the "do the opposite" treatment on ZH while commodities recommendations get some credibility depending on the outlook?
I think GS was trying to get into commodities with the first recommendation to sell crude and now that it dropped 10 percent and the economic outlook looks a lot stormier they want out so they're recommending a buy.
Consider its not JUST economic forecasts or conditions, the mid east is blowing up and Iran and Saudis likely involved soon. Imagine an oil price with an Iran/Saudi hot war? $200 very cheap then?
What? ZH trusts a JPM commodity forecast? JPM is fading this move right now as they prepare to call their friends at the CME to hike crude spec margins. Last week's rumor becomes this week's reality.
Actually, this forecast took some balls and may be correct. Last week was more of a risk off liquidation than a sea change in oil prices. The price of Brent will be very volatile and experience weeks like the last one, but for the next 12 months the supply demand dynamics do favor higher Brent prices (but WTI will lag).
ORI hikes Brent to $160 by Q3. today's dollars.
In Q3 dollars, it will be more like $1,600.
By Q4, oil will be a strictly rationed Strategic War Reserve.
Say goodbye to Oillywood, say good bye my de-formed baybee.
Bond market Q3 ?
You think it'll make it that far Seg? Somewhere the can is going to become too heavy to kick.
I see Bond Bomb Blow definitely by end of Q3. If not before.
I see you being correct.
I think 'strengthening' (or correcting) USD is going to put downward pressure on crude in the short term.
Go-Go Juice to the moon, Baby
My forecast is unchanged at $90.
(Bang the f**king Dae-Ho)
Meanwhile, gold stocks continue to crash and the PM shorts and "Ratio Traders" are making vast fortunes.
Yet physical is up. Smells like time buy some PHYS and PSLV
MomoFader is the only guy in america who has managed to LOSE on his PM calls over the last year.
Well, looks like I won that bet. I knew Robo couldn't go more than 12 hours without insulting his betters after suddenly doing a 180 and recommending silver to his pals.
Slightly off topic but what was that $34.43 print in SLV at 12:54?
Gold $1,505, suck it loser.
Maybe because they already know, what the rest of the world doesn't know, which is that Iran is going to be attacked soon.
All for the sake of this stupid black liquid under the sand.
Man, if you Americans would spend only half of what you spend on your private mercenary army on alternative energy, you could be independent of oil imports now.
But of course the likes of Halliburton and the Kellogg company or Blackwater/Xe can't make a private buck on that.
An army which consumes $680 bn a year has to be put to good use, has it not ?
Not that I agree or disagree that Iran is about to be attacked, but is there some credible (credible as in NOT Debka or Sorcha Faal or a tabloid, or worse yet - The New York Times, Wall Street Journal or NBC/Fox/ABC/CBS) source that you're relying on in making this projection?
what a tool.
Why Vergel, Iran is clearly in the cross-hairs. Why is he a tool? Curious response.
So can someone pse explain why JP Morgue is suddenly to be trusted?
The move in oil reminded me a lot of the move in yen post intervention. After the big intervention, the yen weakened, longs got squeezed out, etc, but after the initial wave was done, it slowly ground its way back to where it had been before the intervention. In spite of all these margin calls, etc, the price of commodities will retrace a lot of their losses, because contrary to the government's opinion that the prices were artificially high, they were real.
this confuses me. I thought JPM and .gov were BFF's.
raising oil forecasts is obviously not playing ball with .gov right now.
"raising oil forecasts is obviously not playing ball with .gov right now"
of course it does. What do you think QE2 was all about?
Calling for higher oil prices is not playing ball with .gov.-
Barrack Hussein Obama- 'My plan means oil prices and energy costs in general will neccessarily have to be far higher'
People looking for reason and logic in a totaly broken and corrupt world economy...I love it.
Quantitative Sleazing III is a go!
I have a direct front row view on Blankfein's Hymietown apartment.
Twas so easy.
15 Central Park West.
Somehow he has to get from there to 200 West Street in his Lincoln Towncar / Ford Escape / Mercedes Maybach with toned windows.
Doing God's work and Winning !
Have you ever heard of Kissinger Associates ?
Boy, N.Y.C. seems to be full of these globalist psychopaths.
Kissinger is a regular guest in these Bilderberg group meetings.
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