Each 50 SPX points = $5.00 increase in oil 1200 SPX = $85+ for oil 1250 SPX = $90 oil 1300 SPX = 95 oil 1350 SPX = $100 oil and so on. Nothing like HIGHER energy prices while over 17 million people are unemployed. Im just waiting for them to extend unemployment benefits again, I mean how else are 99ers going to afford to stay warm this winter and put gas in their car. OIL 85.06 1.16 +1.38% OIL 85.06 1.16 +1.38% OIL 85.06 1.16 +1.38% OIL 85.06 1.16 +1.38%
right, but do you remember when we considered $80 to be high?! Look how far we've been skewed is my point. thanks.
benny just came out and said qe2 was about raising equity prices (check the op ed in the wp). i wouldnt go against him.
All rallies have failed after oil moved past the mid $80s. Look at January and April of this year. Or Oct. 2007, when oil hit $80s for the first time while the S&P 500 hit its all-time high. Oil kept rallying for 6 months but the stock rally died. It could move somewhat higher this time, but gas prices will catch up soon and it will hit businesses and consumers in the pocket..and stocks will have to face the reality. The only way for this not to be true is a Zimbabwe type situation, but that's even worse. The funny thing is that neither the S&P 500 or oil have broken their April highs yet...but people are talking like we're at all-time highs. Remember, it only took a few months to send the S&P from 1220 down to just over a 1000.