oil...

[stevewhitaker]

just looking at wtic at the mo, and was wondering what anyone else thinks of going long us oilers at the moment?

argument for doing so? - several us oilers look like they could take off from a technical perspective, an the possible collapse in the euro, if the ecb stop printing/buying bonds will lead to higher inflation in the usd, pushing oil higher

argument against? - when you take the us oil producers index (xoi) and divide it by the actual price of oil (wtic) they dont look that "cheap" by historical standards and there is also still massive oversupply in oil, which might lead to lower oil prices.

thoughts?