Benefiting from the Oil Correction

We advised caution in the oil markets on July 2nd, 2008. We are seeing the correction now. For targets I have $80-$100 as the low. The correction should continue through the end of this year.

When we originally wrote this article, my partner Sergey got a lot of negative commentary on some boards, which made us pretty confident about our analysis. The majority of the public is always wrong near the peaks and valleys. The public sentiment is probably one of the best trading indicators around.