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Two Ways: Oil Barrels To Six-Month High


Strengthen your portfolio in good times and bad.


Energy Shall Rise Again

It seems like ages ago, but it was just last summer that crude oil spiked to a record $147 a barrel, causing gasoline prices to shoot past $4 a gallon. Energy prices plunged in the months that followed, but have been creeping up in recent weeks. According to the New York Times, oil hit a 6-month high yesterday and gasoline prices have risen to an average of $2.33 a gallon - up from $2.06 last month and well above the recent $1.67 low in December.

Analysts are expecting gas prices to rise above $2.50 a gallon into the peak driving season. Minyan Jeff Saut wrote about energy in his recent column, A Correction in the Cards?

From the Bull Pen: If a correction is in the cards for crude oil, then the strategy is to buy the dip. For oil exposure, one can look to Suncor Energy (SU). Gapfill near $30.50 could provide entry.

From the Bear Cave: If Target (TGT) gave the ol' double-top sell signal on high volume, then the stock could have put in its high for some time. Those testing the downside can place a buy stop near $45.

Quick Check Around the World

Asian trading closed with the Hang Seng -1.58%, India -2.31%, Nikkei -0.86%, Shanghai -1.54% and Taiwan 0.23%.

Glancing towards Europe, we see the CAC -1.51%, DAX -1.52%, FTSE -2.00%,

As of 8:10 AM EST, S&P Futures are trading -6 to 894.00, and Nasdaq futures are -10 to 1393.00.

A Look at Commodities

Over in commodities, crude oil is trading -1.40 to 60.64 while gold is +1.70 at 939.10 this morning. Silver is -0.105 to 14.17 and copper -5.85 to 205.00.

The dollar index is +0.3500 to 81.4300.

On the Radar


08:30 Initial Claims
10:00 Leading Indicators 0.6%
10:00 Philadelphia Fed -18.0

Click here for the full trading radar.

Thirsty Thursday! Good luck, Minyans!

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No positions in stocks mentioned.

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