231 comments on DrumBeat: December 30, 2008
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231 comments on DrumBeat: December 30, 2008
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As I've been saying since the summer, there doesn't have to be a good reason for a price decline if it follows a run-up that also wasn't supportable on simple supply/demand changes.
The current price is below what I think it "should" be at this level of supply/demand (which doesn't mean that it can't/won't go lower - it very possibly will), but it isn't unusual to overshoot to the downside if prices previously overshot to the upside.
Let's just hope that the gas price stays low for another two months , so that all the bone_heads around have time enough to buy a brand new SUV .... (before the hikes start all over again)