My first thought….”Nah – he couldn’t possibly”… but then again, you have USO up a nice 4.3% as of this post and quite honestly that is a nice move, but nothing compared to the 23% sell-off from the Thanksgiving week highs.
Not only that, but USO is breaking above the 5 and 10-day moving averages for the first time since before Thanksgiving.
Oh and by the way he still has me blocked on Twitter.
But hey, I’m a fair guy, I call a spade a spade and if he does nail this bottom, I’ll be more than happy to congratulate him (though I did get myself and members of the Splash Zone in CVX yesterday, which technically speaking, was before his episode aired).
Nonetheless, here is his rather well-put together analysis of why oil might be bottoming here.
