Had a late night phone call with my Civie friend last night....
He is ready to buy oil....
I havn't said this to the blog... but I think oil stocks have new lows...
I'm sitting here thinking Value trap, and thinking about how $200 oil may still be cooked into those stocks...
Let alone that My Civie friend wanted to jump into them.... and let me add, he had me going too...
that doesn't sound like a bottom to me....
I think we need to be Scared.....
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Friday, July 10, 2009
Civilian
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