You can thank Hank Paulson for the resurgence in inflation. The only way to save the banks is to inflate like hell. That is what we are seeing on our screens. Ride the wave higher in commodities, the only way to protect your wealth.
Dollar falling gold and oil jumping, inflation is back on the table the chance of the bulls seeing a rate cut now is 0%%%% Also contributing to rise in oil is not being able to short financials, Im sure all that money is just pouring into oil and gold right now.
It doesn't really matter, the contract you're watching expires soon. I'm looking at QMX08 and I have a 109 and change quote.
$129 on today's contract. Great job Paulson! Remember your politicians who vote for this bailout package on November 2nd. You may want to serve notice upon them of how you feel now.
You can always change the rules during the game. How about banning short selling of commodity futures? Windfall tax on oil companies might work. Congress and friends will think of something to help out the voters.