Don

…OK, McDougal, what are your uncommon convictions about the oil market right now?

1. Oil was officially taken down last summer. Fine American institutions like Goldman Sachs and JP Morgan are fully capable of moving markets in either direction and profiting accordingly. Do you think you could make a few bucks if you absolutely knew the direction a market was to be taken? I have zero confidence in the integrity of elitist paper markets, be they gold, silver, oil, Treasuries or orange juice.


You may review an article by Rob Kirby on the details of the oil takedown last summer. Frothy markets are especially susceptible to interventions because, rightly or wrongly, too many people are on one side of a trade. Oil was way overpriced at $140 and it