Oil Surging, Futures Up Huge; McCain Rally is Real
I’m not going to get into the habit of updating the blog compulsively, but the US index futures are up around seven-tenth of a percent. That is AFTER the indexes surged 1.3 percent in regular trading. Oil is up a whopping three percent. This is the McCain rally in full affect.
Expect oil to hold steady around $95-105 until a few weeks before the election. Then it will rally when it becomes evident by traders that McCain will win, and an Iran invasion is priced in. The reason why oil will remain rangebound until a few weeks before the election is because surging oil and rising gas doesn’t make the McCain campaign looks good, and gives fodder for Obama’s socialist agenda. The smarties need to keep a lid on oil and gas till after the election. On November 4th after the electoral votes are tallied expect the contract to limit up.
The McCain weak dollar, globalist, free trade rally is real. Thats why the markets surged today and the futures are up. The financial crisis is self-limited becuase the US and global consumer purchasing power is still very robust. Short at your peril.
One Response to “Oil Surging, Futures Up Huge; McCain Rally is Real”
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Comment from jeff
Time February 7, 2009 at 12:59 pm
obama was good for the economy and stock market.