Friday, September 25, 2009
Oil - One Foot on a Banana Peel
The technicians are having a field day with oil this week. That chart comes courtesy of Daily Oil Prices. I'm not a technician so I'm not sure whether that is important support but it looks scary. I'm glad that chart is not a stock I own.
There is no shortage of opinion on the causal relationship between and among commodities, currencies and stocks. Leaving the dollar aside, I am very interested to see whether stocks can hang in if oil craters.
Can I go to the G20 meeting and protest something? That Corzine is the Governor? My property taxes? The amount of rain we got this summer? That my car is dirty?