Goldman Sachs this morning press release on Oil was no surprise. Goldman is calling for average Oil prices to be at $141 a barrel in the second 1/2 of the year. Already Oil is up almost $3 on that news, what else is new. Oil I said before was going to $138 short term but I guess Goldman thinks we got higher than that to go.
What will this do? Well forget about ever paying $2 area for gas at the pump. The new floor will soon be $4, with average prices in the mid 4 to $5 area.
For today I expect us to get alot of movement in the first 90 minutes who knows what we do after. It would be unusual to get two strong back to back days, so I expect us to retreat alittle or be flat today.
Watch for pin action today. DRYS pinning to $110, GS pinning to $185, $190
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