Monthly Performance For Oil, Dollar and the Dow

Unless oil has a sharp rally today, it's going to go down as the worst one-month performance for the commodity since at least 1986.  As shown below, January 1991 ranks a distant second to this month in terms of the worst monthly declines for oil. 

The Dollar, on the other hand, is having its fourth best month on record (using data going back to 1967), rallying 7.93% through the 30th.  March '91, November '78, and October '82 are the only three months where the US Dollar saw bigger gains. 

For the Dow Jones Industrial Average, as of last night's close, October ranked as the 12th worst monthly decline for the index since 1900.

Comments

[ValueInvestor:]

Well, it certainly jumped up $4 at the close. If the CFTC is going to investigate futures manipulation they should start looking here. The CL price jumped $4 in the last few minutes of trading. And it was a month-end to boot, making the case for manipulation even greater.

I remember a few months ago where this happened at the close every day for 2 weeks straight in the coffee market. The CFTC is asleep at the switch.

2008 Oct 31 02:56 PM

[Pipo:]

Nice article. Regarding Oil Jim Rogers has said recently that maybe is not the time yet to pile in.

jimrogers-investments..../

2008 Oct 31 03:18 PM

[OctoberFaith:]

nah time to jump in.

2008 Nov 01 02:45 AM

[mangolfer:]

Great article. The bottom is near or maybe past....

2008 Nov 01 07:44 AM