Monday, February 1, 2016

"T. Boone Pickens Calls a Bottom in Crude; Crude Crashes Again"

Since 2014 Mr. Pickens has been a serial bottom caller and it's gotten to the point you almost worry for the safety of his greenmail wealth.


From the Fly at iBankCoin:
I love T Boone Pickens. I don’t know the man, but you can tell he’s less evil than other men. After all, what sort of an 87 yr old boss tweets this out to asshole rapper Drake?
An awesome man, that’s who.
At any rate, poor T Boone made his way onto the television today to call yet another bottom in crude oil. He’s been doing this a lot lately.
Pickens predicted on CNBC’s “Squawk Box” that oil prices will rise to at least $52 per barrel by the end of the year, though he reiterated his admission that he got last year’s call wrong when he thought prices would strongly rebound.

West Texas Intermediate crude, the U.S. benchmark, was under pressure again Monday — losing around 3 percent mid-morning and trading below $33 per barrel....MORE
Throughout September and October Mr. Pickens was explaining why his call for $70 WTI by year end still had a chance of coming true.
Front futures $31.86, down $1.76.

He's become the Cramer of crude, a fine source of amusement but not investment advice.