Gold, Oil & Indices (Equity & Bond Indices)

oil poised for 80
any1 ahs an idea?

tomorrow midday new york floor
SLB on pullback
keeping 80 target

Bill Gross Calls Fed Most Brazen Of All Ponzi Schemes, Says 30 Year Bond Market Is Ending, Compares US Economy To Black Hole

Whatever the conclusion, not only investors, but the American people should recognize that Wednesday, even more than Tuesday, represents a critical inflection point in determining our future prosperity. Of course weve tried it before, most recently in the aftermath of the Lehman crisis, during which the Fed wrote $1.5 trillion or so in checks to purchase Agency mortgages and a smattering of Treasuries. It might seem a tad dramatic then, to label QEII as critical, sort of like those airport hucksters, I suppose, that sold whale blubber for a living. But two years ago, there was the implicit assumption that the U.S. and its associated G-7 economies needed just an espresso or perhaps an Adderall or two to get back to normal. Normal just hasnt happened yet, and economic historians such as Kenneth Rogoff and Carmen Reinhart have since alerted us that countries in the throes of delevering can take many, not several, years to return to a steady state.


The Feds second round of QE, therefore, more closely resembles an attempted hypodermic straight to the economys heart than its mood elevator counterpart of 2009. If QEII cannot reflate capital markets, if it cant produce 2% inflation and an assumed reduction of unemployment rates back towards historical levels, then it will be a long, painful slog back to prosperity. Perhaps, as a vocal contingent suggests, our paper-based foundation of wealth deserves to be buried, making a fresh start from admittedly lower levels. The Fed, on Wednesday, however, will decide that it is better to keep the patient on life support with an adrenaline injection and a following morphine drip than to risk its demise and ultimate rebirth in another form.
http://www.pimco.com/Pages/RunTurkeyRun.aspx

Hi Ashraf
What do you think about oil for 1 week trade?