Oil analyst Marshall Steeves at brokerage Refco Group Inc. in New York said “schizophrenic is a very good word” to describe the energy market’s psychology these days.
So, the key is to think like a schizophrenic. The secret to calling the oil market these days is to be completely
counterintuitive counterrational. Whatever should happen in a market, expect the opposite. The market is just “shizophrenic” enough that this will only work about 90% of the time, but if you gain on 9 of 10 deals, you’re doing pretty well.