By Ben Turney | Saturday 13 December 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Two weeks ago we had a lively debate on ShareProphets in response to OPEC’s decision not to cut production at its 166th Meeting. Articles and comments flew backwards and forwards, as we all played the wonderful guessing game of predicting world events. Chris Oil and Paul Curtis led the charge for the bulls, while I fought a rear guard action on behalf of the bears. So far, it looks like the market is on my side and there is another argument, which reinforces my bearish view. OPEC’s production targets are not rigidly enforced.
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