Time to buy oil?

On July 11th oil peaked at $147 a barrel. The "experts" (most notably Goldman Sachs) were loudly proclaiming $200 oil was just around the corner. Less than two months later oil is trading at $108 a barrel. Now BusinessWeek reports that these same folks "see the price of oil to be 'artificially inflated' and expect prices to fall further, even as low as $70 a barrel."

Now, I no longer think these folks are all stupid (although many are); I have recently become convinced that at least a few players are purposely trying to manipulate the market. They recommend buying when they expect prices to go down and they themselves are selling; they recommend selling when they expect prices to go up and they themselves are buying.

So, until this morning I thought prices were going down a little more, perhaps just under $100. But now that I hear about $70 oil from the "experts" I fully expect prices to go up. I seriously need to look into whether I have a good way to make at least a small bet on this guess.