Looked at PMs Now, the picture in oil n gas. First, 6 mo chart for crude:
quotes.ino.com
NG 6 month? Wow...:
quotes.ino.com
Historic stuff, folks. We'll get a major bottom at some point. But, not likely while the economy is dropping like a stone:
<<Note the scale of the following store closures across America in recent weeks:
Ann Taylor - 117 stores nationwide.
Eddie Bauer to close more stores after closing 27 stores in the first quarter.
Cache, a women's retailer - 20 to 23 stores this year.
Lane Bryant, Fashion Bug, Catherines -150 stores.
Talbots, J Jill - Talbots will close all 78 of its kids and men's stores plus 22 that are a mix of Talbots women's and J Jill.
Gap Inc - 85 stores.
Foot Locker - 140 stores.
Wickes Furniture is closing all of its stores after filing for bankruptcy protection.
Levitz, a furniture retailer - 76 in December.
Zales, Piercing Pagoda - 82 stores by July 31 followed by another 23.
Disney Store owner has the right to close 98 stores.
Home Depot - 15 outlets, affecting 1,300 employees. It is the first time the world's largest home improvement store chain has closed a flagship store.
CompUSA - company closed.
Macy's - 9.
Movie Gallery, a video rental company - to close 400 of 3,500 Movie Gallery and Hollywood Video stores in addition to 520 closed last autumn.
Pacific Sunwear - 153 Demo stores closing.
Pep Boys, an auto parts supplier - 33.
Sprint Nextel - 125, with 4,000 employees affected, following 5,000 layoffs last year.
J C Penney, Lowe's and Office Depot - scaling back.
Ethan Allen Interiors - 12 of 300 stores.
Wilsons the Leather Experts - 158.
Bombay Company - all 384 of its US-based stores.
KB Toys - 356 stores as part of its bankruptcy reorganization.
Dillard's - another six stores this year.
For anyone familiar with American shopping malls and retailing, this represents a staggering part of the daily economic life of the nation, from furniture stores to clothing to video rentals to leather. The process has only begun...>>
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