Thursday, July 24, 2008

Surfin' USA

Looking for gasoline to hit that $3.25 level, do not know what crude price that translates into since the crack spread ( how many gallons of gasoline per barrel of oil) is pretty screwed up these days. But let's say I would not be surprised to see double digit crude come October. This should keep a bullish wind behind the market, as long as a major financial institution does not fail this summer.

This rally is "the end of the world is not tomorrow, so I need to own stocks." probably looking like 1250 to 1325 SPX as a good trading range for a couple of weeks.

Hey, the Mets are now tied for 1st, good luck to the boys of summer!

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