The Fred Report - Weekly August 2, 2010

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We remain with our bullish stance, and believe that the first part of August could end up being stronger than generally expected.  We continue to expect rates to come down but have mentioned, and continue to mention that this should not occur until fall – and so many are short that this is bound to be a choppy and difficult market until then.  The USO has built a base and should move above 36 this week.

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