GlobalAlpha

Options Trader: Friday Outlook

Phil,
High oil prices are just a symptom of much greater problems, the result of a global economic septicemia fed with cheap credit and rampant moral hazards. Lower oil prices also are simply a symptom, that of the global credit crunch taking its toll. A secular repricing of all assets following an unbelivable expansion of credit is the key to reading the markets/economy; oil just happened to be the last bubble to pop.
Cheers
GlobalAlpha