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Saturday, January 5

Shorting Crude Oil at this level

Crude oil has rallied to $93 - $94 levels recently due to the fiscal cliff resolution and better economic indications in China and the US.

However, I believe that the market might have overpriced oil at this level.

Shorting as there is an oversupply of crude oil in the US, weak demand from US manufacturing.

The european crisis is not over yet and we might be overbullish at this point.

Target - $85

Time Frame - 2 months

The market is bound to correct soon and VIX might soar past the 20s.

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