He's right on the mark (imo) with his view on black gold ... OIL:
"Oil broke to new highs today, trashing the public perception that its recent rise is just another spike which has occurred on multiple occasions. The world has changed and massive populations with new and huge powers of consumption are now in the marketplace for oil, assuring that cheap oil is a thing of the past.
The price objective of oil now from the chart shown to you today on a simple measured move is between $46 and $47 without any significant interruption in supply. The maximum objective on a measured move from the long term chart is just under $70 per barrel.
Yet the Chairman of the Federal Reserve is saying publicly that the oil price should not be considered in the economic equation because it is simply a temporary phenomenon. That is simply wrong!"
