I Certainly Got This One Wrong.
From Greg M
Lions and friends. Short term I certainly did get crude wrong, (believe it or not it happens, today's 4.5% drop took me by surprise). With that, I still believe that longer term its going much higher. I covered it here in this video, LINK:
I’ve been in the energy market for a while. There’s a lot of dumps and pumps... and more dumps and more pumps. It’s basically the crypto of commodities. Every time I panic sold I regretted it and every time I held it’s worked out. Most energy companies have nice dividends too so just sit back and ride the waves.
You forget we are officially in clown world now: only in clown world does a war in middle east- where US is directly involved -mean collapsing crude prices. Most people were caught on the wrong side of that trade..