Bring out the dip buyers

So. Oil has come down, quite quickly.

and oil can still barely hang onto $114

Finally it looks like we have an oversold bounce....(which I figured we would get more in the 120 range.)

SO..... BRING OUT THE DIP BUYERS. "Valuations are great.".

sure I'm still, tentatively bullish on commodities... but.. I'd bet this is more of a Fall to spring play. and it may obey the seasonal trends and bottom next Feb.

If you assume this Bounce is the half way point.... Oil goes to 100-90 before the B word. I wouldn't touch it till 110 or 105 at least.

Worst part is bob pisani is all over this...