re: oil retrace of 2004 ((****)) i think $40 will hold. its the 50% retrace of the run up from $25... a necessary correction in a healthy bullmarket. if it fails only then would i reassess. too early to hit the sell button imo. given blacksheep's track record i would take the opposite position to anything he says - a contrarian indicator with so far a 100% success rate.
