Friday, August 14, 2009

Morning Yuk

Bloomberg "Oil May Fall as Supplies Climb Amid Weaker Demand, Survey Shows";

Twenty of 40 analysts surveyed by Bloomberg News, or 50 percent, said futures will decline through Aug. 21. Ten respondents, or 25 percent, forecast that the market will rise and 10 said prices will be little changed. Last week, 58 percent of analysts said oil would fall. (my italics).

and my personal favorite;

The oil survey has correctly predicted the direction of futures 47 percent of the time since its start in April 2004.

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