This morning oil is above $85 a barrel. Geo-political problems in Turkey-Irag. Increasing demand in China and India. Stability?
"A run at $90 is now seen as reasonable," Citigroup analysts said in a note.
The higher spike in oil comes as fall/winter is coming on. It also takes away from Americans disposible income, and seems that it will affect the GDP at some point. The lower class would be hurt the most. How long can we pretend that these signs will not surface in the market?
A moderate sell-off is beginning this morning. Futures are showing >0.50% red. Should be more downside because the NYSE volume is still light. I need a little more down to think about getting back in.
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