This segment includes Blue Phoenix looking for further downside in oil and copper prices, a reaffirmation for $1,200 gold for 2009, a snapshot of the upcoming OPEC meeting scheduled for next week (Sep 9), a look at this week’s payrolls data (Fri), an outlook for the Japanese yen and the potential for its impact on black gold, a short call on both drybulk shippers/oil tanker stocks and finally a mention of Batman, Gotham City, Spiderman and yes even Mickey-Mouse.
JL: I think we can. Once we get through the summer months, we can see the economy start to show some signs of life; but I think that the oil market is going to go back to its own fundamentals. We’re going to maybe look at where the dollar is trading, as well. There is plenty of oil in the market place right now, but all the E&P budgets being cut is going to show that, when there are actually any signs of demand increasing, we’re going to see a massive short covering.