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JPE,
Aug 02 15:04 pm
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All Comments by TraderMark »Massey Energy Posts Big Number But Big Charge Too [View article]
Oil needs to stabilize not just go up for a day or two. A 50% retracement of its 70 to 148ish run since August would take it to 110. So we'll see. I am thinking 100ish because sentiment drives oil and humans seem to love big round numbers. If you have a tin foil hat you might believe oil will bottom a week before the election (grin)
Coal is very different from crude; fertilizer is very different from crude. But in a world where hedge funds are the marginal decider of all stock prices, they might as well all be the same thing.