Oil > $120
While some traders feared that the dissolution of Yahoo would impact the market negatively, it appears that the $4 pop in Crude is the bigger issue.
This morning Crude Oil broke over $120, to set a new record, as reported by Briefing.com and Bloomberg COMDX ("Crude moves above the $120 level, now up $3.74 to $120.06").
Crude Oil June 2008
Source Bar Charts
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Come on now ... even the longterm oil bulls, have to understand that this is a bubble. I would be willing to bet that a good chunk of the pros are shorting oil (all commodities) now.
Posted by: Donny | May 5, 2008 11:52:36 AM
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