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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (38501)	10/5/2012 1:50:09 PM
From: Keith Feral	Read Replies (3) \| Respond to of 219176

Oil prices are coming down, but refinery fires are keeping gasoline prices at obnoxious levels. If oil continues to get pummelled, gasoline prices are going to peak out very soon. Could make for a nice trade on the short side. Gas prices peaked out during the second week of October last year and didn't bounce much until the end of December. I don't give a damn if the election is only a couple weeks out, this would be the perfect time to unleash some oil and gasoline from the SPR to get prices to back down this quarter. I think it would be a great time to flood the market with supply. Oil prices seem very vulnerable right now. They could easily take WTI prices back to $85 or lower. In 2008, the market took the price of oil all the way back to $65. Every time oil gets below $90, economic numbers begin to improve. Every time oil gets near $100, economic numbers begin to deteriorate. I'd feel a lot more comfortable with growth improvement if oil was trading between $75 and $85.