Eric in IL

Watch for Yourself: 60 Minutes Oil Story Was Spot On

This is all about Money Flow. When we had a breakdown in Financials, those investors needed to go somewhere, and they went to Crude. This happened due to a belief in the global growth and peak oil theories. When people figured out that American woes = global woes, those theories went out the window.

There was also a confirmatory bias pushing oil higher. Real US Oil demand had been dropping for months, miles driven were falling for the first time ever, but investors ignored this news and only looked at tension in the mideast-type information.