Great points, I couldn't agree more. I recall Zapata George appearing on Jim's show and stating 'mark my words, you will never see $120 oil again'. Even if the fundamentals supported his view, the technicals surely did not. You don't get exponential blow offs in the market at the bottom of the market (where you buy), you get them at the tops. I don't blame him or Jim for their views, and they forthrightly admit that they are not market timers, but if you had listened to someone like Tim Wood, you could have saved yourself some coin. I don't subscribe to him, though.