12/07/2004

Crude Oil CRASHED through major support this morning, now trading at $41.75. The close is what is most important but I think next stop is $38. Unleaded gasoline is in freefall this AM with no real tech support til around $1. This is great news for the economy IF these prices hold. I think you will find as much speculation on the downside as there was on the upside. Gasoline high was $1.45 and now at $1.09; a seven week crash. Watch for Congress to call hearings.