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Toddo on TV: Gas Nears Cycle High


Markets, movers and more.

Minyanville's head honcho dares to wonder what staggering highs crude might post in the near future and long term. He then presses Fox Business Channel's captive audience to his chest (metaphorically, silly) and reassuringly imparts this sage take: All trading moves are characterized by three phases -- denial, migration and panic -- so with a conscious nod that catching cusps is a dangerous game, we may be close to a cycle high.

Best. Segment. Ever. Toddo suggests training that creepy gaze on the the Shanghai Composite Index. It closed down 8% last night atop a huge support level.

Buzz & Banter time (who said ol' Toddo can't multi-task?). Conventional wisdom wants to see a stronger dollar to boost equities, which could be a setup for the biggest head fake of 2008. The dollar is down 38% since 2002, whereas the S&P is up 16% amid skyrocketing commodity prices. The initial response to a higher dollar -- and lower crude -- could be knee-jerk, but history and the DNA of this market suggest we should be careful for what we wish.

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