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To: Dale Baker who wrote (76314)4/14/2009 8:50:57 AM
From: Keith FeralRespond to of 118717
 
PPI is going to look really ugly between now and June, since the YOY comps are coming into the period during which we had the superspike in energy prices. Ironically, the superspike could work against any attempts for oil to rally much past $50 going into the summer. But, oil continues to move higher each month no matter what thanks to cantango. That is really starting to kill the USO, since it can't price itself correctly as the futures roll every month.


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