Oil is moving south again in early trading, off 1.5% in heavy volume. Since the recent peak of 104, oil has lost some 16% of it's value and is quickly approaching the trouble point of 20%, which insiders like to call a bear market. How can the economy be 'improving' with oil in a bear market? Well, first, oil has to drop more - to 84. That is the line in the sand. In my opinion, 84 MUST hold for broader market to maintain a bull uptrend.
A RAY HOLDEN STORY
Stephen Moran lives in Las Vegas with his beautiful wife, baby Kiana, and two dogs.