re: Oil & Gas top...
One other thought...
The top in crude oil, and/or nat gas, will not be foretold
by any chart, and my bet, is that it will not be caused by
a change in the underlying fundamentals for either oil, or
gas; but rather a news byte, or market event (probably in
the financials) that takes the broad market down sharply.
Bulls need to remember Mother Rock & Amaranth and "who"
(know thy customer) held the purse strings in both cases.
These i-banks no longer have derivatives, and mortgage paper
to bundle, leverage up, and sell to the unsuspecting masses.
A large part of their business model has been vaporized.
If you think they were a motherless, cold-hearted lot
to their clients before, just wait.
...at this point in time, they'd eat their young.
And did you hear Jack Parudjian (sp?) on CNBC this am
regarding his positive spin on import numbers falling?
...a good thing. or, a sign of a collapsing US consumer?
Have you seen the % ramp of credit cards being used
at grocery stores, convenience stores, and gas stations?
A big chunk of US consumer spending is on rising gasoline
and food prices which is being incorrectly spun positively.
Kudlow has been showing a very good chart on how much of
the US consumers "disposable income" is now being eaten
away by rising food & energy prices.
Disposable income... remember that term.
SOTB |
