I Really Can't Sell

Name: Phil Flynn Company: PFGBEST

Years Trading: 25

I really can't sell, baby it' cold outside. I've got to go long, baby its cold outside. I’ve been hoping that the oil would rise but not so fast. The carry trade has been so nice. But the bulls may start to worry if Fed gets in a hurry. The traders will be pacing the floor as they listen to the Iranians roar. So the traders may start to scurry because they don’t want holiday worries. But perhaps just one buy more. I’d better get long because baby it's cold outside.

Cold temperatures and Iran worries put the bulls on ice. Reports are circulating that an Iranian military force entered Iraq. Bloomberg News reported rumors quoting Iraqi Border Guard General Zaser Nazmi that said Iranian forces yesterday entered Iraqi territory and occupied oil well number 4 in the East Maysan field in al-Fakah region, 450 kilometers (280 miles) south of Baghdad. The Iranian forces positioned tanks around the well. The order guard’s comments couldn’t be immediately verified independently and were later discounted. Yet the border guard said,  “They positioned tanks around it and dug trenches, and they are still there, they raised the flag.”

Is this chilly development for real? Is Iran going to take over an Iraqi oil field and claim it as its own? Isn’t that what Saddam Hussein did? Is Iran trying to remind its citizens what a rotten government they have by picking a fight with its long term foe? Will energy traders take a chance on being short with this type of rumor swirling over a holiday weekend? Do we need this? We have cold temperatures and a wildly bullish natural gas withdraw already conspired to turn the oil market around. It that had been under pressure in the post Fed, yet the surging gas market brought back the petroleum markets as we saw a lot of roll activity in crude from January to February. That along with cold weather forecasts was able to overcome other more generally bearish news. News like more OPEC production tanker tracking firms that are saying OPEC production is rising. The EIA is saying that OPEC crude oil production is expected to average 29.1 million bbl/d in 2009, down more than 2 million bbl/d from year-earlier levels.

Put your earmuffs on as Iran is putting a chill in the air because baby it is cold outside! What will warm you up is watching the Fox Business Network where you can see me every day. You can also get warmed up by opening your account today. Just call me at 800-935-6487 or email me at pflynn@alaron.com.

About the Author

Phil Flynn is Energy Analyst and General Market Analyst with PFGBEST (www.pfgbest.com). Phil is one of the world’s leading energy market analysts, providing individual investors, professional traders and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline and energy markets. Phil’s market commentary, fundamental and technical analysis, and long-term forecasts are sought by industry executives, traders and global media.

Because he has been available to media around the clock, even during some of the most turbulent market periods in history, and because he has built a solid reputation for accuracy in his market analysis and forecasts, through thousands of interviews and broadcast appearances for more than a decade, Phil Flynn has become a headline-making name even as he continues to provide expert advice and customer care to his proprietary trading account clients.

Media highlights include: CNN, CNBC, Bloomberg, ABC, CBS with Katie Couric, NBC’s “Today Show” and “Nightly News with Tom Brokaw”, FOX’s “O’Reilly Factor”, PBS’s “The Newshour with Jim Lehrer” and “Nightly Business Report”, MSNBC’s “The News with Brian Williams”, Wall Street Journal Report, The Wall Street Journal, Business Week, Investor’s Business Daily, The New York Times, The Los Angeles Times, Chicago Tribune, Associated Press, The Toronto Globe & Mail, Houston Chronicle, Futures Magazine, National Public Radio’s Marketplace, a chat with the President of the United States, and many more venues.

You can read Phil’s daily market analysis and blogs at www.pfgbest.com.

PFGBEST is among the largest non-clearing U.S. Futures Commission Merchants, with customers, affiliates and brokerage offices in more than 80 countries. The company is a leader in sustainable investing through diversified products including managed funds, futures, forex, options, full-service and discount brokerage, trader education, market research, and direct online futures trading through its BESTDirect™ platform, and numerous other platforms and applications.

Phil’s commitment to and experience in futures trading is documented in two books, The Mind of a Trader (Financial Times/Pitman,1997), and Trading Online (publisher, date), both by Alpesh B. Patel. Phil is a lifelong resident of Illinois. He attended Daley College in Chicago before beginning his career on the trading floor of the Chicago Mercantile Exchange.

Phil Flynn
Phone: 800.935.6487
Email:pflynn@pfgbest.com