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Two Ways: Oil Barrels To Six-Month High

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Strengthen your portfolio in good times and bad.

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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

Economics

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.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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