Myself, I believe oil is going higher in the near term and, of course, when the economy turns, even higher. No getting around it. It certainly doesn't appear so today, but it was due for a pullback. I've been long oil since the beginning of March, with some DUG and other various protection plays along the way.
Here is an analysis of Oil and it's trend from a really smart guy.
http://www.ino.com/info/323/CD3655/&dp=0&l=0&campaignid=3
