by Greg Guenthner
Daily Reckoning
Here comes $20 oil!
Just kidding…
The good folks at Barron’s have outsmarted themselves once again—back in early February, the market mag declared that crude was headed for 20 bucks. Of course oil went on a major tear just after their prediction, topping out over $40. Nice job, fellas!
But does oil’s huge rally mean it’s time for us to bet on higher prices? Or is this rally doomed to fizzle? Today you’re going to find out…
To be fair, the Barron’s article accompanying the gaudy cover was a bit more subdued. It asserted that we were seeing the final leg down of the oil crash.