Saturday, February 26, 2005

Richard Russell on oil?

Richard Russell publishes Dow Theory Letters (address: La Jolla, California. Where do I get that gig? And note to Richard - web site layout needs work, IMHO, home page looks like a site map) and though I don't keep up with his work much, I think he's had a reasonable record over time, and was one of those people warning about the bubble of the 90's.

My impression (and I could be wrong) was that he was focusing mostly on gold these days ('because it's the only true money'), so it's interesting to see him talking about oil. This article has a some of his commentary and a chart showing a technical target of 64 for the price of oil.

[My internal debate over whether oil is the new gold (inflation hedge, currency alternative) and tech (demand growth story) all wrapped up in one continues..]


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