Thursday, June 26, 2008

That Grinding Noise You Hear Is My Teeth

Oil closes near $140/bl.

CIBC sees $7/gal. gas by 2010

Worst June for the Dow since 1930:
"One thing is for certain, if crude continues to rally, stocks are dead," said Dale Doelling, chief market technician at Trends In Commodities.

"If stocks have another day like this tomorrow, then the fallout next week could include government intervention in the markets," said Doelling.

It's all getting a bit surreal, isn't it?

Oh, and by the way: Royal Bank of Scotland (which, my dear Philadelphians, owns our very own Citizens Bank) is predicting a market crash.


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