Got this message from a friend on Wall Street...
"We maintain a positive energy outlook,We continue to believe that the market will remain in a seasonally adjusted deficit, reducing the inventory surplus andtightening timespreads. Disappointing production and reserve replacement figures have also reinforced our view that the need to develop more capacity in a high-cost environment will continue to lend structural support to prices.Raising ourbase metals return forecast We now believe that much of the downside in metals prices from an economic slowdown has been priced in and maintain our view thatprices will see renewed upside momentum in late 07/early 08. Expecteddollarweakness suggest more upside in precious metals. Agricult. and livesstockrisks are skewed to the upside: Increasing biofuel demand has potential tosupport corn and or soybean prices this year."
Who can really argue with that? LOL, I'm sure plenty of folks, but it makes sense to me and has already led to so many more great trading opportunities beyond the stinkin' stock and stock options market.
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