Yes, I say this is negative for oil, too. I think oil reached new highs of 113 recently mainly because of reticency of NATO in Libya.
China will have to tighten further, too, it seems: 3:03 am New Loans Actual: 679B Forecast: 603B M2 Money Supply y/y Actual: 16.6% Forecast: 15.4%
clearly counter trend to the main trend of the day so far. The bet really is that we've seen the lows, at least temporarily. Stop pulled up to b/e.