In this new world of HFT algos that I read about here and elsewhere it is funny to think if there are lines of code to act on the word "Regrettably" . James Baker , 1991 speech where optimism that war could be avoided was dashed. Common market lore even appearing in one of the Market Wizard books.
I think any spike would be short-lived and a great set up for going short. In fact, it may be an incredible trade....and put options may be the way to go here. I can't see this economy continuing to tolerate $110/bbl oil for very long.
Scary chart. I remember gas being under a buck for awhile in 99...aahhh and driving muscle cars daily. That chart is horrifying. But may as well keep trading it.