Gas & Oil

Tanked up this weekend — and for the first time in a long while, I paid over $3 for a gallon of gas (93 octane premium).

Crude is now ~$63 a barrel.

Of course, energy has nothing whatsoever to do with inflation (ex-inflation), so thats no worry.

Whether this goes any further is still unknown. Since the GSCI weighting change, Oil has been unable to surpass $64. Indeed, as the 6 month chart below shows, Crude Oil has substantial resistance right at that point. So unless something very significant happens — Iran and Brits? Pakistan falls? Iraq gets even worse? — we can expect that it will take something very significant to help energy prices blast thru that level.

Note that the longer term (3 year) chart is far bottom, and implies a trading range of $56-64.

CRUDE OIL Daily chart 6 months

CRUDE OIL Weekly Chart, 3 years

Category: Commodities, Energy, Inflation

New Home Sales: 7 Year Low

Category: Data Analysis, Real Estate

What Market Hazards Are Ahead?

Category: Currency, Earnings, Markets, Real Estate

Spring LinkFest!

Category: Weblogs

Investing Advice: If you are NOT a billionaire . . .

Category: Apprenticed Investor, Investing, Psychology

Saturday Afternoon Funnies

An amusing set of ‘toons:


Read More

Category: Psychology, Real Estate

The Patient’s Improving, For Now

Category: Economy, Federal Reserve, Inflation, Media

Friday Night Jazz: Count Basie & Joe Williams

Category: Digital Media, Friday Night Jazz, Music

CD Sales Plunge 20% so far in ’07

Category: Digital Media, Music

Neutral Bias?

Category: Data Analysis, Federal Reserve