Thursday, July 10, 2008

Parabolic

First off, these charts are sketchy. I don't have a bloomberg terminal--or the 15 large a year one of those cost. Just saying...

Chart of the 10yr S&P bank index:

10 yr chart of some China index:

10 yr chart of home builders:

The point? Oil has gone parabolic. I wouldn't short it. Not with Iran and Israel wanting to start a bomb exchange program. I just don't expect the fun to last.

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