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Oil Hits Record-High $100 a Barrel

Written By Brian Hicks

Posted January 2, 2008

Here’s how it read from the AP wire:

Oil Futures Rise to $100 a Barrel
Wednesday January 2, 1:02 pm ET
Crude Futures Hit Record $100 a Barrel for 1st Time on Supply Concerns
NEW YORK (AP) – Oil prices soared to $100 a barrel Wednesday for the first time ever, reaching that milestone amid an unshakeable view that global demand for oil and petroleum products will continue to outstrip supplies.

That’s right, oil reached $100 a barrel today, fulfilling what we’ve been predicting for the past five years.

Technically, I think oil is headed to $113 a barrel. Take a look at this chart and I’ll show you why and how:


You’ll notice a small reverse head-and-shoulders pattern that started in October of last year. In this pattern, oil just broke out from the neckline. From the top of the head (in this case about the $85 level) to the neckline (around $99) is roughly 14 points. Add 14 to 99 and we get $113. I think we could reach $113 within the next two to three months.

Our correct $100-a-barrel call also fulfills a prediction that our resident green guru Jeff Siegel made over five years ago… that this century’s most significant bull market would be in renewable energy.

Today, on the same day that oil reached $100 a barrel, one of Jeff’s solar stocks scored the biggest deal of its life… and made a new record high.

I’m talking about Akeena Solar (AKNS – NASDAQ). Jeff recommended Akeena on September 1, 2006, when it was trading on the bulletin boards for just $3 a share.

The company then moved its stock to the NASDAQ… and hasn’t looked back since. Here’s the chart:


This morning Akeena announced that it had struck a distribution deal with global solar giant Suntech.

Akeena jumped nearly $4 today to hit a high of $11.99.

Members of Jeff’s Alternative Energy Trader who took a position in Akeena when it was an unknown solar stock are now sitting on gains of nearly 300%!

Jeff’s success in trading alternative energy plays is second to none. In fact, his winning ratio rate is 84%. In other words, for every ten trades he initiates, 8.4 turn out to be profitable.

I urge you to become a member, especially if you want to make fast and easy money in the exciting renewable and alternative energy market. I’ll even throw in a special "New Year’s" discount. Order before Saturday, January 5th, and get our $500 New Year’s discount.

Good trading,

Brian Hicks

Click here to become a member of the Alternative Energy Trader service: