The market got ahead of itself earlier this week. With the world in its present state a move into hard assets makes complete sense. Any decline in oil should be looked at as a buying opportunity.
More Quotes from Michael Fitzpatrick:
The current perception is that there is enough crude and heating oil around, thus the slide in prices.Michael Fitzpatrick
Repairs are proceeding apace. Discretionary driving can be cut back but you have got to heat your house. Heating oil will soon lead the market.
Michael Fitzpatrick
There was a lot of panic yesterday as we all thought about the worst possible scenarios. The likelihood is that the worst won't occur.
Michael Fitzpatrick
At this time of year, it is hard to imagine prices running to far away, particularly with the huge amount stored.
Michael Fitzpatrick
The real dichotomy in this market is that crude inventories are very high and that could make for some violent, back-and-forth price action. For the foreseeable future, the path of least resistance remains up until there is a significant structural economic or political shift.
Michael Fitzpatrick
Relatively moderate weather, ample supplies and an escalation in the dispute over Iran's nuclear program should make for another week of high volatility. Absent geopolitical uncertainty, prices should be moving lower.
Michael Fitzpatrick
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Based on Topics: Opportunity Quotes, Sense & Perception Quotes, World QuotesI think experience has shown that privateers have done more toward distressing the trade of our enemies, and furnishing these States with necessaries, than Continental Ships of the same force.
William Whipple
I don't like war. I particularly don't like the celebration of war, which I think the administration is a little bit guilty of.
Neil Young
There is a large body of abolitionists in Clinton and Clark Counties in this state, and in Wayne County Indiana, that would undoubtedly support such a store, but whether their support would be sufficient, I am unable to say.
Gamaliel Bailey