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Chart of the Week: Crude Oil at new Highs (6 Months)

Posted By Barry Ritholtz On June 20, 2005 @ 12:03 pm In Commodities,Investing,Markets | Comments Disabled

Is Crude correlated to Equities – or not? Since the October 2002 lows, both the Nasdaq and Crude have at least doubled. More recently, market gyrations have been inverse to the price of crude oil.

Crude Oil at new Highs (6 Months)
click for larger chart

Crude_62005_1 [1]

Source: Redwood Technimentals

Technimental’s Kevin Lane observes:  “When crude surged the markets went down, when crude corrected the markets went up. Then quietly this closely correlated relationship unwound itself. However with crude threatening to breakout above its April highs and the market may start to pay attention to crude again.”

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Quote of the Day: 

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Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2005/06/chart-of-the-week-crude-oil-at-new-highs-6-months/

URLs in this post:

[1] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/crude_62005_1.jpg

[2] Investment newsletters value gold : http://www.marketwatch.com/news/story.asp?guid=%7B36DD78D6%2D3F5B%2D4E58%2DAD8C%2D9EFCE7033B48%7D&siteid=mktw&dist=

[3] Kill Social Security Privatization; Reform 401(k)s: http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_wasik&sid=a.zzN5eD0LVw

[4] This ‘Time’ May Not Be Bearish Sign for Housing : http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_baum&sid=azaARBnHx5kc

[5] Seven years of stagnant prices: http://www.thisislondon.co.uk/news/business/articles/timid401468?source=This%20is%20Money

[6] Hedge Funds Get Typecast in Role of Troublemakers: http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_currier&sid=a24APFrbMhdc

[7] Mary Pickford: http://www.marypickford.com/

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