Oil Acting Up

Crude oil has very quietly rallied from $93 to $106 over the past  few weeks. I am surprised we haven’t heard more from the media about it. Usually when it cracks $100, we hear how it is going to hurt the consumer and lead to recession. And all this while the dollar was strong as well. Thursday’s downside reversal was interesting, especially given how weak the dollar was and I will be closely watching to see if the bears can muster any attack. If so, and stocks continue rallying, the transports should catch fire pretty quickly again. For full disclosure, we already own a position in the group and would consider adding to it. On the flip side, if oil blasts off again above $110, I think that will spell short-term trouble for the stock market.

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Paul Schatz, President, Heritage Capital
Paul Schatz, President, Heritage Capital
If you have at least $250,000 of investable assets and would like to schedule a complimentary meeting, call, or video conference with me, please click on my calendar here email me at Paul@investfortomorrow.com or call the office directly at 203.389.3553.

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