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The problem with oil

March 3, 2011

EVERYONE I talk to is long. The middle east situation is continuing to worsen, but its clear that everyone sees it and is long oil. The obvious catalyst day is the March 11 “Day of Rage” in Saudi Arabia, but I think thats too well publicized and by the time that rolls around some more interesting things will have happened. The Saudis can do a lot to control and mitigate that when they know so far ahead of time that its coming.

The Bahrain situation is interesting, and that is going to be the nearest term catalyst. People there seem to be marching, but thats about it. Its what Ill be watching, and short term taking advantage of any further move in oil to sell and buy on a dip.

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