Thursday, March 26, 2015

Market Pre-Open: Oil Prices, Retailers & Restaurant Stocks

I think there is a lot of supply, I know there is demand at 42 - 43 dollars a barrel, I know a lot of people were calling for 15 dollar oil, suddenly are saying oil goes to 60 and has bottomed. I am more sanguine on oil, I think it belongs between 40 and 55 but I also want to see on days like today, you got to be able to go back to the retailers, the restaurants, the domestics and if you think gasoline is going to jump next week you are not going to be inclined to do that trade.