RUDE CRUDE

Markets continue lower and surprisingly WINTEL is green along with the Volatility indexes but all else is red as even the precious semis flip to red dye.

Interesting this morning that as Crude trades to the $78+ levels, the OIH and the XLE continue to trade flat to lower. The lesson being that even if oil spikes to $80/$90 there is no guarantee that oil stocks will make new highs. A better play is USO which tracks the price of crude and DBC which tracks a group of six commodities but is mainly crude(35%) and heating oil (20%). Aluminum, gold, corn and wheat make up the balance of the DBC ETF.

On another note thanks to Ticker Sense for starting the Blogger sentiment poll. It will be interesting to see if the bloggers are smart or dumb money.