Toddo on TV: Crude is Churning
Markets, movers and more.
In a volatile oil market, some perspective from Minyanville's Sheriff Harrison. Is a $5 move significant when oil is hovering around $135 per barrel? It would have represented 10% at the beginning of last year. Now it's barely 4%. Crude has traded sideways between $130-140 the last month. Sideways movement under resistance is a bearish churn. The same movement above support is a bullish base.
Now watch this! Toddo's eyeballing the dollar, the Countrywide (CFC) lawsuit and at least one thousand other things on his sixteen monitors.
In the much-anticipated Buzz & Banter segment, Todd talks American Express (AXP) - and the far-reaching implications of this statement by its CEO: "Business conditions continue to weaken in the U.S. and so far this month we have seen credit indicators deteriorate beyond our expectations.'' Indeed, the credit conundrum is moving up the food chain, from green to gold to platinum to black.
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