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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (9562)	6/23/2008 3:27:12 PM
From: Stoctrash	Respond to of 33421

BW....demand destruction, yes it is on the way. Problem I see is that any drop in demand won't be a large enough % to bring oil back to under $100 anytime soon. My theory is there are just too many people who MUST drive to work. Once we get $6-$8 gas, that could change. Food prices are going nuts here on E-coast....it ain't pretty. Worst part is even if oil comes back down over the next 3-6m the OIL guys won't drop prices as fast as they raised them and little guy gets hosed again. btw....SPX looking toasty.. stockcharts.com