Crude oil prices corrected down to a 1-month low from last month’s 1-year high of $82.00 a barrel. That 1-year high is a 43% retracement of the 1-1/4 yr downmove from July 2008’s record high of $147.27 a...
Let’s all try to agree on someone to blame. I mean can we at least have some bi-partisan blaming?Yesterday, before the Congress Joint Economic Committee, there was some exciting and heated exchanges between Treasury Secretary Tim Geithner and some House Republicans. There were fireworks as Republican Rep. Kevin Brady of Texas blamed Geithner for a major role in creating the economic mess we are in when he was the president of the New York Federal Reserve Bank while all the problems were going on. He called on Mr. Geithner to take some responsibility. Mr. Geithner shot back, "What I can't take responsibility is for the legacy of crises you've bequeathed this country." (Wow! This is great!) Republicans going after Democrats, Democrats going after Republicans! I thought it would come to blows.
December crude oil closed down $1.87 at $77.71 a barrel yesterday. Prices closed nearer the session low yesterday amid a rebound in the U.S. dollar index and solidly lower U.S. stock index futures prices. Crude oil bulls still have the overall near-term technical advantage. However, the bulls do not...
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