Crude oil spikes higher

[Point Man]

Crude closed at $29.17 today, up $1.82 in the past two trading sessions. This will be reflected at the pump soon. Fuel is a fixed expense. This will reduce the consumer's disposable income. Consumer Spending and Retail Sales will take more hits. This is not a good sign for stocks.

 

[Free Thinker]

stocks arent listening. yet.

 

[taodr]

Did you hear guy on k & c predicting a near double for natural gas by the end of the year. Low supply.

 

[AAAintheBeltway]

Good observation Point Man. Crude bottomed on May 6 and has rallied about $4.00 since. The nat gas guy on K&C was scary. I haven't traded those stocks for a couple of years but why not? Which would you rather hold, QLGC or APA?

 

[Point Man]

I do not trade stocks for a living. I am a futures trader for the past 25 years. I have been all over this bond move. Look for a 135-136 objective. And like most of the rest, I am bearish stocks. I think the high may be put in after the impending rate cut. Buy the rumor sell the fact. The players cannot ignore the data of the next 30-60 days. Round 1 and 2 were yesterday and went to the bears.